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XRP continues to display signs of weakening market conditions, as key indicators suggest that sellers remain in control, according to the latest analysis from CryptoQuant.<\/p>\n
The data show Open Interest has dropped to $350.6 million, one of its lowest levels in recent months, indicating that traders are closing futures positions and reducing leverage.<\/p>\n
While lower Open Interest can sometimes ease selling pressure by flushing out leveraged positions, CryptoQuant said<\/a> it is not the case this time because capital is also leaving the broader market.<\/p>\n The analytics firm also added that the trend is not limited to futures activity but also reflects a lack of meaningful new money entering the asset. The firm stated that traders are exiting positions without being replaced by fresh capital, leaving the market with weaker overall participation.<\/p>\n On-chain data also does not yet point to a stronger recovery. XRP’s NVT Ratio remains elevated at 162.86, suggesting that network activity has not increased enough to justify a higher market valuation.<\/p>\n According to the analysis, the combination of falling Open Interest and a persistently high NVT Ratio paints a consistent picture of weakening market conditions. CryptoQuant said investor risk appetite has declined significantly, and participants appear exhausted. This has left XRP’s price action tilted in favor of sellers.<\/p>\n On the institutional front, US-based spot XRP ETFs recorded $7.3 million in outflows on July 8th, although the funds have generally held up better than their Bitcoin and Ethereum counterparts.<\/p>\n Despite the weak market outlook, XRP continues to see strong real-world adoption in parts of Asia. Earlier this week, Japan’s SBI VC Trade said<\/a> companies are increasingly adding XRP alongside Bitcoin to their treasury reserves and shareholder benefit programs. The crypto asset also remains one of the most actively traded cryptocurrencies in South Korea.<\/p>\n Ripple also expanded XRP’s visibility this week by securing<\/a> the first crypto sponsorship of a major US college athletics program. Under the partnership, the University of Kansas Jayhawks will display the asset’s logo on game jerseys beginning this fall.<\/p>\n The post XRP’s On-Chain Data Flashes Warning While Sellers Continue to Dominate<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\nAdoption and Visibility<\/h2>\n
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