XRP News Today: XRP Price Stabilizes Above $2.19 While Futures Open Interest Plunges 59%

XRP's price has stabilized above the $2.19 support level following a sharp 59% plunge in futures open interest since early October, indicating traders are reducing leveraged exposure. This cooling derivatives market coincides with a drop in the perpetual funding rate and only 58.5% of the circulating supply being in profit. Technically, XRP shows a bullish flag pattern, supported by new institutional interest from Grayscale and Franklin XRP ETFs, which saw significant first-day inflows totaling $164 million. However, on-chain activity, including daily active addresses, has fallen significantly, and whale distribution continues to weigh on momentum, suggesting a potential retest of $2.00 if selling pressure persists. Key levels to watch are support at $2.15 and resistance between $2.20–$2.30.

(Source：Brave New Coin)