XRP Stuck in Selling Pressure Amid Soft Market Conditions

XRP continues to face selling pressure as its price remains near $1.06. According to CryptoQuant, declining derivatives activity and weak on-chain signals indicate softer market conditions.

The analytics firm reported that XRP's Open Interest fell to $350.6 million, one of its lowest levels in recent months. This decline suggests traders are closing futures positions and reducing leverage across the market.

CryptoQuant noted that falling Open Interest can sometimes reduce selling pressure by removing leveraged positions, but current conditions differ. Instead, capital is leaving the broader XRP market, limiting the potential for a stronger recovery.

On-chain data also presents a similar picture. XRP's Network Value to Transactions (NVT) Ratio remains elevated at 162.86, suggesting network activity has not increased enough to support the asset's market valuation.

Ripple expanded XRP's public visibility through a major U.S. college sports partnership with Kansas Athletics. The company signed a multi-year jersey patch agreement that makes XRP the official cryptocurrency of Kansas Athletics.