XRP's Rollercoaster Ride: Is a Crash Coming? ๐
XRP's been on a wild ride, surging over 45% since early April! But, uh oh, storm clouds might be gathering. ๐ฌ
Derivatives markets are showing bearish signs, with less institutional interest. Funding rates are neutral, meaning traders aren't really betting big in either direction, and open interest is down. Less enthusiasm = potential for a price dip!
Plus, big players seem to be pulling back from XRP investment products, with significant outflows. Is this a sign of things to come? ๐
Technically speaking, a descending triangle pattern has formed, hinting at a possible 16% drop towards $1.96 if it breaks down below $2.28. On the flip side, blasting past $2.35 could send XRP soaring towards $3.00! ๐
Will XRP defy the odds, or is a pullback on the horizon? Are you watching XRP closely on Binance? Discover more content like this!
