XRP is currently moving within the $2.40 to $2.13 range after retesting the $2 support level. Analysts highlight the importance of closing above $2.30 to continue bullish momentum, while a buy wall between $2.20 and $2.23 acts as short-term support.
XRP’s open interest has decreased by 54%, from $4.23 billion to $1.95 billion in three weeks. This sharp decline indicates thinning liquidity which may translate into increased price volatility, particularly at the critical $2.30 resistance point.
A symmetrical triangle pattern has been identified on XRP’s one-day chart. This pattern suggests potential for increased volatility, with the possibility of either spiking towards $2.95 or dropping to previous lows around $1.85, reflecting an uncertain market direction.