XRP price dips as futures activity hits 8-month high

XRP has fallen 8.28% over the past seven days to $1.38, while declining futures activity and bearish technical indicators have raised questions about whether the cryptocurrency can defend its $1.30 support level. XRP traded at $1.38 after falling 2.48% daily and 8.28% over seven days, CoinGecko reported. Binance XRP futures recorded $511 million average open interest, an eight-month high, CryptoQuant analyst reported. Daily open interest reached $467 million, below its monthly average, with its Z-score near -0.99. Analyst EGRAG cited XRP quarterly election-year returns across 2014, 2018, and 2022 as mixed results.

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