Crypto
XRP Seller Pressure Persists Amid Elevated Leverage and Futures Volume
XRP has been facing seller pressure as it trades near $1.37 on August 31, while derivatives sellers remain more active than buyers in the $1.35-$1.40 zone.
The Taker Buy/Sell Ratio on Binance stood at 0.92, indicating that aggressive selling activity still exceeds aggressive buying activity, according to CryptoQuant data.
XRP's market capitalization climbed from approximately $87.4 billion to nearly $107 billion by August 22 but later fell to around $86.4 billion after XRP retreated from about $1.69.
Futures activity and leverage remain elevated, with Coinglass data showing XRP futures open interest at $3.21 billion on August 31, down 3.07%, and a 24-hour derivatives volume jump of 90.20% to $4.63 billion.