XRP Price Slips Below $1.48 Amid Mixed Sentiment and Rising Overheating Risks
XRP's price has been under pressure in recent days, slipping below $1.48 after three consecutive losses. Despite this decline, traders' sentiment remains mixed, with conflicting technical and on-chain indicators.
A look at CoinGlass statistics reveals that XRP's long-to-short ratio stood at 0.974 on Tuesday, indicating that short positions had a slight edge over long positions. However, this margin was marginal, highlighting the prevailing indecision among traders.
Funding rates for XRP perpetual futures remained positive at 0.0062%, suggesting demand for bullish exposure in the market. Nevertheless, this positivity may also indicate heightened vulnerability, as traders using leverage might rush to close positions if the price falls sharply.
On-chain data from CryptoQuant flagged rising risks of overheating across spot and futures trading, with dominance from sellers in the futures segment. This pattern suggests that market activity is running hot and that sellers continue to exert control over price dynamics.