XRP has experienced a 4.5% decline over the last 24 hours, underperforming against several top cryptocurrencies. The altcoin has closed three consecutive bearish candles on the weekly chart for the first time since June 2024, raising concerns of a potential retest of the psychological support level at $2. Data indicates a significant drop in XRP's open interest of over 54% in three weeks, with a notable negative funding rate suggesting increased interest in short positions. Spot trading volumes have stalled, leading to continued bearish sentiment. Additionally, XRP is breaking out of a symmetrical triangle pattern, signaling possible declines into the $1.80 to $1.95 zone. On the 4-hour chart, XRP has fallen below key moving averages, contributing to a bearish outlook, with suggestions from analysts indicating further drops may occur, potentially down to $1.90, as market liquidity weakens at this level.

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