XRP Soars Amid SEC Optimism, Eyes $2 Milestone

Ripple's XRP recently hit a year-to-date high of $1.63 but has since declined to $1.44, with a 6% drop in the past 24 hours. The decrease in open interest and a Long/Short ratio below 1 indicate a bearish sentiment among traders, suggesting a potential further decline to the $1.33 support level. However, a shift in market sentiment could see XRP reclaim its recent high. Traders are increasingly opening short positions, reflecting doubts about the sustainability of the recent rally.