XRP Sees Reduced Selling Pressure on Binance Amid Bullish Futures

XRP's activity on Binance has seen a significant drop in recent times, from approximately 650,000 to 350,000 deposits and withdrawals. This decline indicates reduced selling pressure and increased holding of XRP by investors.

The NVT Ratio has surged, suggesting that the market value of XRP is growing faster than its network use. This could be a sign of investor confidence but also raises concerns about potential overvaluation.

Bullish futures funding rates have risen, showing that traders remain optimistic without excessive risk. XRP is currently holding above $1.05 support and buyers are aiming to break the $1.15 resistance level. If surpassed, this could lead to a stronger upward move for XRP.