ℹ️ XRP Price Opinion: Can This $40M Signal Kickstart a $0.60 Rebound?

💬Despite XRP’s 12.5% price dip over the past week to $0.51, a rare $40-million signal in derivatives markets offers hope for a bullish rebound. Open interest in XRP futures contracts declined at a slower 7% pace than prices, suggesting traders are holding positions in anticipation of an upswing.

🕯 This positive divergence between open interest and price could indicate sellers are exhausted and a recovery toward $0.60 is imminent. However, the $0.53 resistance level poses an initial hurdle.

⌛️ A clearance above $0.53 could catalyze a parabolic move to $0.60, while a failure to do so opens up downside risks toward $0.45 in the near-term. This could be a crucial signal for investors, since XRP attracted much attention in the Q1.

This content should not be considered as financial advice.

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