has been locked in a prolonged consolidation phase, hovering below critical resistance levels for over a month, with no signs of a breakout.Recent data paints a bleak picture: In the last 48 hours, XRP Futures Open Interest has nosedived by over $1 billion, highlighting a sharp decline in investor conviction. What’s driving this dramatic shift in sentiment?In 48 hours, XRP Futures OI dropped $1 billion, falling from $2.9 billion.
This divergence suggests the price movement was driven more by speculative trading rather than organic network growth or utility adoption.In the aftermath of the rally, DAA divergence remained in negative territory, reflecting persistent skepticism among on-chain participants.
This level serves as both a psychological and technical anchor, preventing further declines despite the mounting uncertainty in broader market conditions.Indicators paint a mixed picture for the token’s trajectory. The RSI hovers near 50.98, reflecting a neutral market stance and indecision among participants.
Similarly, OBV trends highlight muted capital inflows, raising questions about the token’s ability to sustain upward momentum without renewed interest.
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