Three reasons trader demand for XRP evaporated: Is $1 next?
XRP fails to find demand under $2 as futures volume on Binance fell by 96% and traders’ use of leverage hits new lows. Is $1 XRP the next stop?
XRP (XRP) is facing renewed downside pressure as derivatives activity and onchain positioning continue to weaken across December. These signals point to a market still in risk-off mode, even as price hovers near a key technical support around $2.00.
Key takeaways:
XRP futures taker buy volume on Binance has decreased by 95.7% since July, indicating a decline in demand.