XRP Price Stalls Due to Lack of Buying Pressure and External Uncertainty

The price of XRP has been stagnant in recent days, failing to build on its earlier momentum. One reason for this is the lack of interest in the derivatives market, with neutral funding rates indicating that there's no strong buying pressure driving the asset up. External factors are also at play, as the global economic uncertainty and upcoming US CPI data keep investors cautious.

According to CryptoQuant, the derivatives engine has 'run out of gas', meaning that without high funding rates, there's no fuel to trigger a short squeeze. The RSI is sitting at 42 points, indicating that sellers have a slight advantage over buyers in market orders.

The current market structure suggests that it's waiting for external catalysts to validate the next directional move. Analysts predict that the price will continue to move sideways between $1.28 and $1.39 until a macroeconomic catalyst hits. This could be either a decrease in oil prices or an improvement in global economic outlook.