[Analysis] "Ripple (XRP), Possible 20% Drop by December"

There is a claim that Ripple (XRP) could drop by 20% within December.

On the 29th (local time), Cointelegraph reported, "According to technical analysis, Ripple could see a 20% price drop in December," adding that "excessive leverage positions could exacerbate the downward pressure." Furthermore, it was stated, "Ripple's price has reached the resistance line, and the Relative Strength Index (RSI) has also exceeded 80, entering the overbought zone."

The media also reported, "Ripple whales are selling Ripple," and "the holdings of whales with over 100,000 XRP have decreased." Additionally, it was mentioned, "Some whales are trading at the highest point in years."

Moreover, the increase in the futures market's open interest is also acting as downward pressure. The media stated, "In the last 24 hours, Ripple's open interest increased by 37%, recording 31.9 billion dollars, which implies a high level of speculative activity on Ripple."

CryptoQuant analyst Ja Ma-reuk said, "The increase in Ripple's open interest coincides with the 17% drop that occurred between November 23 and 26," adding that "the upward trend based on leverage could lead to a long liquidation."