Deep Dive
1. Futures Liquidations Drive Volatility (Bearish Impact)
Overview: RPL’s 24h futures open interest dropped 24.78% (CoinGlass), coinciding with a 12.8% price decline on Binance Futures (@Adanigj). High leverage positions amplified selling pressure as the price breached key support levels.
What this means: Traders unwinding leveraged bets exacerbated downside momentum. RPL’s 24h trading volume fell 48.18%, indicating thinning liquidity and heightened volatility risk.
2. Ethereum Staking Demand Cools (Mixed Impact)
Overview: Ethereum’s validator entry queue decreased to 1.5M ETH (vs. 2.45M exits) as of Nov 2025 (The Block). While Rocket Pool’s rETH remains a top liquid staking token, slower ETH staking growth reduces protocol fee revenue.
What this means: Lower staking activity weakens RPL’s utility as a governance/insurance token. However, Rocket Pool’s $1.7B TVL (June 2025) and integrations like Obol’s DVT technology provide long-term stability.
3. Technical Breakdown at Key Levels (Neutral)
Overview: RPL failed to hold the 50% Fibonacci retracement level ($2.12), slipping below the 7-day SMA ($2.15). The MACD histogram turned positive (+0.058), but bearish momentum dominates.
What this means: A close below $2.03 (61.8% Fib) could target $1.90. Conversely, reclaiming $2.18 (pivot point) might stabilize the price.
Conclusion
RPL’s drop reflects a mix of futures-driven sell-offs and sector-specific headwinds, though its decentralized staking infrastructure remains competitive. Key watch: Can RPL hold $2.03 support amid broader market uncertainty?