XRP Faces Persistent Selling Pressure Amid Market Uncertainty
- XRP struggles near $1.33 as selling pressure persists across the crypto market.
- The Estimated Leverage Ratio in futures markets has sharply declined to approximately 0.16.
- Binance remains a dominant liquidity hub, influencing global XRP market dynamics.
- XRP trades below key moving averages, indicating a persistent bearish trend.
XRP continues to face downward pressure with a weak momentum structure and declining speculative leverage in derivatives markets. The reduction in leverage suggests a calmer market environment, but without increased spot demand, XRP may remain under pressure.
Despite the low leverage environment potentially stabilizing prices, XRP’s sustained trading below key moving averages indicates ongoing bearish sentiment and potential for further downside if support levels are breached. (Source)
