XRP Traders Refuse to Give Up Amid Price Decline

XRP traders are struggling to maintain their bullish momentum as the price continues to decline. Despite this, long-to-short ratios suggest that traders remain somewhat confident in the cryptocurrency's future. The combination of nuanced positioning data and indicators pointing to stretched trading activity suggests that a sustained recovery may be elusive.

A reading below one on the long-to-short ratio means short positions slightly outnumbered long positions, but the narrow margin indicates limited conviction. Positive funding rates indicate demand for long exposure, but also make the market vulnerable if prices fall and leveraged longs close their positions.

Long-term holder (LTH) supply typically oscillates between periods of net buying and selling. In this case, LTH buying has peaked aggressively in the intermediate ranges after a significant breakout, suggesting that traders are still willing to hold bullish positions.