XRP Faces Selling Pressure Despite Active Addresses
The Most Important Points in Brief
XRP is under increasing selling pressure. In recent days, the number of active XRP addresses has risen sharply, but many of these new market participants are now selling their holdings. This has led to a decline in recent price gains. Signs of a possible further downward movement are also emerging in the derivatives market.
Increasing Activity, but Falling Prices
Data from Glassnode shows that the number of active XRP addresses has increased by 620% within a few weeks – from 74,589 to 452,650. Such an increase usually indicates rising demand, which positively impacts the price.
However, the number of active addresses has declined again after peaking on March 2. This suggests that many investors have sold their XRP holdings to take profits. The result: selling pressure is increasing, and the XRP price is coming under pressure.
Negative Signals from the Derivatives Market
Another indicator of the current market situation is the Open Interest Weighted Funding Rate (OI-WFR). This value shows the ratio between buy and sell positions in the derivatives market. A negative value signals selling pressure, while a positive value indicates buying interest.
On March 3, the OI-WFR was still at 0.0103%, but it has now fallen to -0.0022%. This shows that sellers are dominating. Additionally, the ratio of long to short positions has dropped to 0.9798 – another sign of a possible continuation of the downtrend.
Spot Market Shows Increased Selling
A similar trend can be observed in the spot market. In the past 24 hours, US investors in particular have sold large amounts of XRP. On US exchanges Coinbase and Kraken, XRP worth $34.68 million was sold, while purchases worth $34.45 million took place on Bybit and Binance.
You should read that too:
-
Adventure Slots – The Best Adventure-Themed SlotsReading time: ~ 2 minutes
-
Comic Book Slots – Best Comic-Themed Slots
Reading time: ~ 2 minutes
-
Medium Volatility Slots
Reading time: ~ 2 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 2 minutes
-
High Volatility Slots
Reading time: ~ 2 minutes
The net flow on major exchanges stands at -$230,000, indicating that more XRP has been sold than bought. If this trend continues, XRP’s recent price gains could be completely erased.
Our Assessment
The current selling pressure on XRP should not be underestimated. Both the declining number of active addresses and the negative signals from the derivatives and spot markets suggest a possible continuation of the downtrend.
If the market environment does not change and more investors continue to sell than buy, XRP could lose further value in the coming days. Investors should closely monitor market developments and adjust their strategy accordingly.
| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $2.52 |
| 24h % | 0.55 % |
| 7d % | 14.92 % |
| 30d % | -8.78 % |
| 60d % | 5.96 % |
| 1y % | 330.05 % |
| Official Links | Website |
| Socials | X |
Advertising transparency