XRP peaked at 3.66 USD but has recently dropped to approximately 3.47 USD, marking nearly a 2% decrease. This downturn has led to liquidations totaling 24 million USD, with long positions significantly affected.
The trading volume surged to 20.22 billion USD amid rising selling pressure. Despite liquidations, the Open Interest in XRP futures has reached 10.94 billion USD, signaling continued bullish expectations from traders.
Technical analysis shows XRP in an overbought condition with a declining RSI and support levels at 3.40 USD and 3.00 USD. The market is experiencing bearish momentum, but long-term bullish structures remain intact.
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