BEARISH 📉 : XRP Open Interest Falls 60% Amid Price Correction

The market for XRP is currently characterized by apathy and uncertainty, with its price below $2.00. Following a strong rally earlier, the momentum has cooled, leading to failed attempts at regaining traction.

XRP's open interest on Binance hit an all-time high of $1.76 billion in July but has since plummeted below $500 million due to a significant unwinding of leverage.
This decrease in open interest indicates a nearly 60% reduction, reflecting a major liquidity contraction in the derivatives market post-October 10 liquidation event.
The decline in XRP's price from $3.55 to $1.83 represents a drawdown of almost 50%, underscoring the link between price and leverage.
Moving averages signal persistent downside pressure, with declining moving averages compressing the price.
XRP is trading near critical support levels, particularly around the 200-period moving average ($1.85–$1.90), indicating potential transition zones between continuation and broader trend failure.
Volume remains low, suggesting market apathy rather than panic selling, aligning with the observed derivatives deleveraging.

For XRP to recover meaningfully, it needs to reclaim the 50-period moving average and maintain a price above $2.00. Until then, it faces consolidation under resistance, with future direction depending on the durability of long-term support.