- XRP droped below key EMAs as whale activity and exchange inflows point to rising sell pressure
- Weak derivatives data and falling Open Interest (OI)show fragile market sentiment and limited bullish conviction
Ripple [XRP] is showing signs of weakness as large holders begin offloading their tokens. With profit-taking underway, concerns are rising about a potential sell-off that could drive prices lower.
Bearish pressure mounts
XRP has now slipped below both its 50-day and 200-day EMAs, a sign of a prolonged downtrend.
It traded around $1.99 at press time, down over 12% in the past week, with bearish candles stacking amid rising sell volume, most notably on the 21st of June.
The RSI hovered at 34, moving toward oversold territory but not low enough to spark a reversal.
Meanwhile, the MACD remained firmly in negative territory with a widening gap between the signal and MACD lines, showing sustained momentum against the bulls.
With volume climbing during the decline, the data points to growing sell-side conviction.
Whales retreat as inflows and liquidations intensify
On-chain signals are turning grimmer for XRP.
Whale transaction counts spiked on the 23rd of June, coinciding with a sharp price drop, a classic sign of large-scale profit-taking.
Simultaneously, Binance’s liquidation heatmap shows dense liquidation clusters near the $2.1-$2.2 zone, suggesting aggressive short positioning and stop-loss hunts.
Exchange inflows to Binance have spiked in recent weeks, often a signal of looming sell pressure.
At the same time, XRP has fallen below key psychological support, with large holders exiting their positions.
Unless buying volume returns, the path of least resistance appears to be downward.
Derivatives data hints at shaky confidence
XRP’s aggregated OI has dropped sharply to $1.54 billion, showing capital exiting the market.
This decline, coupled with a brief dip in Funding Rates into negative territory, indicates long positions were being flushed out as sentiment flipped bearish.
While funding has just turned slightly positive again, the bounce remains shallow, suggesting limited conviction from bulls.
Without a significant recovery in OI or sustained positive funding, XRP could remain vulnerable to further downside, especially if spot sell pressure persists.