Ripple’s XRP has faced a notable decline in open interest, dropping over 10% following its recent failure to surpass the $0.7440 resistance level. This decrease in open interest, which represents the total number of outstanding futures contracts, suggests a waning confidence among traders regarding XRP’s short-term prospects. The repeated inability to break through this key price point has led to increased selling pressure, contributing to the reduction in open interest. Market participants are now closely monitoring XRP’s performance, as sustained resistance at this level could signal further bearish trends.
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