Ripple's XRP Price Faces Strongest Selling Pressure Since May

XRP's price has been experiencing choppy behavior this week, briefly falling below $1 before recovering modestly to around $1.01.

New data from CryptoQuant shows that selling pressure on XRP has reached its highest level since May on Binance.

The exchange's Taker Buy/Sell Ratio has fallen sharply to around 0.86, its lowest reading since last May, indicating clear selling pressure in the derivatives market.

However, a low ratio does not necessarily mean that XRP must continue declining; it primarily shows a temporary imbalance between buyers and sellers.

But analysts are warning of potential further downside, with CryptoPatel highlighting high open interest as another warning sign. The analyst explained that the combination of price weakness and elevated OI essentially means that leverage remains stacked in the market, setting up a potential liquidation cascade if the asset falls further.