XRP Price Holds Firm Above $1.35 as Buying Pressure Absorbs Selling
The price of XRP has been holding steady above $1.35 despite a recent surge in selling activity, according to market data.
While the aggregated futures CVD continued to fall to about $5.89 billion and spot CVD dropped to nearly $1.70 billion, suggesting sellers have remained active, the price of XRP has failed to push lower.
This divergence between the price action and selling activity could indicate that some selling pressure is being absorbed by buyers.
Furthermore, open interest in XRP surged to around $1.4 billion during the rally before cooling off to about $1.2 billion, indicating some leverage has already been removed from the market.
The data also shows that $XRP spot ETFs have seen a significant increase in inflows, with weekly net inflows reaching $110.49 million and cumulative inflows now at around $1.66 million.
This positive demand signal is being accompanied by declining exchange reserves for XRP, which have fallen from 2.8 billion to 2.6 billion, reducing the amount of XRP readily available on exchanges.