XRP Falls 1.7% to $1.39 Amid Increased Long Liquidations

XRP has seen a decline of 1.7% over the past 24 hours to around $1.39, despite ongoing demand from US spot XRP exchange-traded funds.

The token's price has struggled to hold above $1.40, with long liquidations increasing and sellers pushing the price back below this level.

The sharp reduction in leveraged positions is a significant factor contributing to XRP's decline, with open interest falling 14% from $558 million to $478 million and the estimated leverage ratio dropping from 0.203 to 0.182, according to CryptoQuant data.

The selling pressure has come at a time when the rest of the crypto market is also trading lower, with Bitcoin down 1.06%, Ethereum dropped 0.71%, Solana lost 1.91%, and XRP was down 1.20%.