XRP Price Action Remains Choppy Amid Mixed Market Sentiment

The cryptocurrency market is experiencing a positive start to the week, with major coins such as Bitcoin and Ether showing gains. However, XRP is stuck in sideways price action, trading at $1.40 amid mixed signals from on-chain activity and derivatives positioning.

CryptoQuant's summary data suggests a neutral to slightly bullish outlook for XRP, with spot markets showing cooling conditions and buy-side dominance. However, the long-to-short ratio for XRP reads 0.95, indicating bearish sentiment in the market.

Despite this, XRP's funding rates data support improving sentiment, with CoinGlass' OI-Weighted Funding Rate flipping positive on Tuesday. The futures Open Interest (OI) stands at $2.57 billion, suggesting that traders have kept their positions open in the market with the expectation of an XRP rally in the near term.