Yes

>>XRP is facing challenges, trading below $3 amid declining futures activity and a significant outflow of 440 million tokens from large holders.

XRP is facing challenges, trading below $3 amid declining futures activity and a significant outflow of 440 million tokens from large holders.

crypthub

3 days ago

XRP Price Struggles

The price of XRP is facing downward pressure, struggling to surpass the $3.00 mark and currently trading near $2.80–$2.83. Derivatives data reveals a cooling momentum, with futures open interest declining and substantial liquidations impacting long positions. Technical indicators suggest consolidation or further declines unless spot demand strengthens considerably.

On-Chain Activity and Market Shifts

Recent on-chain flows indicate a risk-off sentiment as XRP holders are moving tokens to exchanges, increasing reserves to nine-month highs. Whale cohorts have also distributed a significant amount of XRP, adding supply to the market. BNB has overtaken XRP for the third-largest market capitalization due to increased activity on the BNB Chain.

Technical Analysis and Key Levels

XRP is currently within a descending triangle pattern, with the pivotal support level at $2.68–$2.70. A weekly close below this level could trigger a significant price drop towards $2.22. Resistance levels to watch are $2.92–$3.00 and subsequently $3.15, which would invalidate the bearish pattern.

Future Outlook and Considerations

Bulls require a strong, high-volume push above $3.00–$3.15 to shift momentum. A retest of $2.70 and potentially a drop to $2.22 remain possible if the pattern breaks down. Monitoring spot-led bids, exchange reserves, and open interest will be important for assessing future price movements.