XRP falls below key EMAs as whale activity and inflows to exchanges indicate increasing selling pressure
Weak derivative data and declining Open Interest (OI) indicate fragile market sentiment, lacking confidence from bulls.
Ripple [XRP] is showing signs of weakness as whales begin to divest. With the ongoing profit-taking, concerns about a sell-off could further push prices down.
Downward pressure is increasing
XRP has now fallen below both the 50-day and 200-day EMA – a clear signal of an extended bearish trend.
It is trading around 1.99 USD at the time of reporting, down more than 12% in the past week, with numerous bearish candles appearing alongside a significant increase in selling volume, particularly on June 21.
The RSI is hovering around 34, approaching the oversold region but not low enough to trigger a reversal.
Source: TradingView
Meanwhile, the MACD remains in negative territory with an increasingly wide gap between the two signal lines and the MACD, indicating strong bearish momentum.
Trading volume gradually increases during the price decline, reinforcing the growing confidence among sellers.
Whales are retreating as inflows to exchanges and liquidations rise
On-chain signals for XRP are turning strongly negative.
Source: Santiment
Whale transaction volume spiked on June 23, coinciding with a sharp price drop, a typical indication of large-scale profit-taking.
Source: CoinGlass
Meanwhile, Binance's liquidation heatmap shows dense clusters of liquidations around the 2.1-2.2 USD price range, indicating a strong trend in short selling and aggressive stop-loss hunting.
Source: CryptoQuant
Recent inflows into Binance have surged, often a warning signal of impending selling pressure.
At the same time, XRP has fallen below important psychological support levels as large investors collectively divest.
Without an increase in demand, the downward trend is likely to continue.
Derivative data reveals fragile confidence
The aggregated Open Interest (OI) of XRP has sharply decreased to 1.54 billion USD, reflecting a capital outflow from the derivatives market.
This decline, coupled with a brief foray into negative Funding Rates, indicates that long positions are being liquidated as market sentiment shifts from bullish to bearish.
Source: Coinalyze
Although Funding Rates have just turned slightly positive again, the recovery momentum is quite weak, reflecting limited confidence from the bulls.
Without significant growth in OI and sustainable positive Funding Rates, XRP is likely to continue facing downward pressure if the sell-off in the spot market persists.
Source: https://tintucbitcoin.com/rui-ro-sup-do-xrp-khi-ca-voi-ban/
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