The price decline below 3 USD comes after XRP failed to break past resistance at 3.15 USD. The bearish sentiment is bolstered by signals of excessive selling and waning buying interest as XRP risks dropping beneath 2.90 USD.
Intense liquidations near the 3.20 USD mark suggest that many leveraged positions were caught unexpectedly in a bull trap. Profit-taking rather than panic selling appears to be driving the latest price movements, indicating a strategic approach from large holders.
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