The crypto market is experiencing a dip, including XRP, the native token of Ripple Labs. However, despite the price decline, on-chain analytics firm Coinglass reports that XRP has gained attention from crypto enthusiasts. The Binance XRPUSDT Long/Short ratio indicates bullish sentiment among traders, with a high number of long positions compared to short positions. Despite this, XRP is struggling to gain momentum and has dropped over 6.50% in the past 24 hours. The trading volume has also declined by 65%. If XRP fails to rebound and closes below $2.50, it could fall by 25% to the next support level of $1.95. The Relative Strength Index (RSI) indicates potential further decline, while the 200 Exponential Moving Average (EMA) suggests an uptrend. Traders holding long positions are liquidating, with liquidation areas at $2.47 and $2.75. If the sentiment remains unchanged, approximately $22.68 million worth of long positions could be liquidated at $2.47, while $99 million worth of short positions could be liquidated at $2.75. Bulls appear to be exhausted, and short-sellers are dominating, suggesting further price decline.



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