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18 hour ago
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XRP Faces Bearish Divergence and Drop in Open Interest

The price of XRP has been on a downward trend throughout December, struggling to maintain key support levels around $1.80 due to increasing sell pressure.

Bearish Divergence and Price Outlook

  • Market analyst CryptoOnchain notes a bearish divergence between the Relative Strength Index (RSI) and XRP's price, indicating weakening buying strength.
  • This pattern suggests possible significant price corrections, as historically observed.
  • XRP is currently retesting the crucial psychological level of $1.80; failure to hold this could lead to further declines.

XRP price

Open Interest Decline on Binance

  • XRP's open interest on Binance dropped to $450 million, the lowest since November 2024, indicating a reduction in leveraged capital.
  • This decline suggests traders are exiting or abandoning positions due to fear, rather than preparing for a price increase.
  • Current market conditions show reduced investor confidence, with participants stepping back amid weak momentum.

XRP Price

XRP is valued at approximately $1.87, reflecting a 1.5% increase in the past 24 hours, but the overall sentiment remains cautious given the bearish signals.