XRP has been consolidating under key resistance for over a month, frustrating investors as the altcoin struggles to gain upward momentum. 

This prolonged stagnation has impacted trader confidence, with many opting to step back amid a lack of significant price growth.  

XRP Traders Are Uncertain

Open Interest (OI) in XRP Futures dropped by $1 billion in the past 24 hours, signaling a loss of trader conviction. Just a day earlier, OI had surged to $2.9 billion, fueled by expectations of a price rally. However, when these hopes failed to materialize, traders began pulling their money out.  

This sudden withdrawal indicates a growing bearish sentiment among XRP enthusiasts. The decline in OI highlights the increasing skepticism surrounding XRP’s ability to break through its current resistance levels, potentially dampening market activity further in the short term.  

XRP’s macro momentum is also showing signs of weakness. The Price DAA Divergence is currently flashing a sell signal, reflecting declining participation and stagnant price movement. This bearish indicator suggests that traders may begin to secure profits, which could lead to further price declines.  

If selling pressure intensifies, XRP could face additional challenges. The combination of reduced participation and hesitant investors may stall the altcoin’s recovery, keeping it locked in a consolidation phase until stronger market cues emerge. 

XRP Price Prediction: Escaping The Consolidation

Go to Source to See Full Article
Author: Aaryamann Shrivastava

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details