XRP Struggles Amidst Bearish Market Dynamics and Futures Decline
- XRP is trading near $1.29, with technical support at $1.27 and resistance at $1.35.
- XRP futures open interest has fallen to $2.77 billion, a decrease of 1.32%.
- Polymarket assigns a 50% chance of XRP touching $1.20 by the end of October.
- Kalshi traders predict a reduced likelihood of XRP exceeding $1.60 this month.
XRP faces significant bearish pressure as it struggles to maintain its position above key support levels while futures market interest declines, indicating reduced speculative activity.
With futures open interest slipping and prediction markets skeptical of an October recovery, XRP’s short-term outlook remains uncertain amidst ongoing selling pressure and declining leverage ratios in the derivatives market.
