XRP Sellers Gain Upper Hand in Futures Market

XRP has been experiencing selling pressure in its futures market across three major exchanges, despite the cryptocurrency's spot price pushing higher.

Data from CryptoQuant's XRP Taker Buy/Sell Ratio metric shows that sellers are handling more of the order flow than buyers, with a reading below 1 on all three exchanges tracked by the firm.

OKX has the weakest reading among the three exchanges, with its Taker Buy/Sell Ratio at around 0.79, indicating that aggressive selling activity is significantly higher than buying activity.

The strong selling pressure on OKX could indicate increased short positioning among derivatives traders as XRP tries to maintain its recent gains.

Binance shows a smaller imbalance, with its 0.94 ratio meaning that selling volume exceeds buying volume, but the reading is closer to the neutral 1.00 level than OKX's 0.79.

In contrast, Bybit presents a different picture, with its Taker Buy/Sell Ratio standing at 1.00, indicating that aggressive buying and selling remain roughly balanced.