Jun 6, 2025
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XRP Price Enters Bearish Territory After Four Consecutive Green Closes
The XRP price has returned to bearish territory following a brief recovery, as noted by crypto analyst Master Ananda. The recent trend raised concerns about future price stability.
Recent Price Trends
- XRP experienced four consecutive daily green closes in early June, indicating potential bullish momentum.
- However, expected volume spikes did not materialize, leading to a red close soon after.
- This suggests weakness, with further declines possible if the trend continues.
Resistance is forming at the $2.2959 level (0.382 Fibonacci), which must be cleared for a potential recovery. Failure to do so may lead to a drop towards the 0.236 Fibonacci level and below $2.
Volume Concerns
- XRP's daily trading volume in June remains under $5 billion, reflecting bear market levels.
- Investor participation appears low due to current market conditions.
- Open interest is high at $3.94 billion, but 52.75% of positions are short, indicating a bearish sentiment among traders.
