XRP and XLM Suffer Under Selling Pressure as Cautious Sentiment Persists

Ripple and Stellar, XRP and XLM, are facing selling pressure as cautious sentiment persists in the market. The altcoins have failed to recover from their recent declines, with XRP trading at $1.12 after being rejected by the upper boundary of its falling channel pattern last week.

XLM has extended its correction for a fifth consecutive day, falling over 15% in value. Derivatives metrics and on-chain data point to bearish sentiment among investors, increasing the risk of further downside for both altcoins.

The futures Open Interest (OI) for XLM has dropped to $2.70 billion, while its long-to-short ratio is at 0.77, nearing its lowest level in over a month. This reflects waning investor participation and supports a bearish outlook.