XRP Futures Show Increasing Sell Orders – Will It Drop Below $2?
XRP's price has plunged amid a futures sell-off and growing short interest, putting the crucial $2 support level at risk. Traders are now eyeing a deeper dip unless buyer momentum rebounds.
XRP has suffered a near 10% decline over the past week, dampening trader sentiment and triggering a wave of sell-side activity in its futures market.
As buying pressure wanes, the altcoin risks plunging below the key support formed at $2 in the near term.
XRP Futures Traders Position for Decline
The bearish tone in the XRP market is evident in the token’s taker buy/sell ratio, which has consistently posted negative values for the past two weeks.
This indicates that sell orders dominate buy orders across the XRP futures market. At press time, this stands at 0.92, per CryptoQuant.
XRP Taker-Buy Sell Ratio. Source:
CryptoQuant
An asset’s taker buy-sell ratio measures the ratio between the buy and sell volumes in its futures market. Values above one indicate more buy than sell volume, while values below one suggest that more futures traders are selling their holdings.
The sustained decline in XRP’s taker buy/sell ratio over the past few weeks points to a mounting sell-off among futures traders, many of whom are increasing their exposure to short positions.
This is reflected by the token’s long/short ratio, which currently stands at 0.94.
For context, this metric has remained below one since May 8, highlighting that traders have been positioning for a downside move for nearly a month.
XRP Long/Short Ratio. Source:
Coinglass
The extended demand for short positions suggests that XRP’s price dip is not just a reaction to short-term volatility. It also shows a broader bearish tilt increasingly driven by expectations of lower prices.
Will XRP Hold the $2 Support?
At press time, XRP trades at $2.13. If bearish pressure gains momentum, the token risks slipping below the psychological $2 mark. A breach of this key support line could deepen the ongoing correction and cause XRP to trade below $1.99.
XRP Price Analysis. Source:
TradingView
However, a resurgence in new demand for the altcoin could invalidate this bearish outlook. If buying surges, the XRP token could witness a bullish correction and climb to $2.29.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SUI Price Faces Bearish Pressure Despite Account Growth
Avalanche Price Prediction November 2026: Can AVAX Break $9.03?
US CPI Exceeds Expectations Again, Waller's Warning Comes True! Wall Street Focuses on Whether December Rate Hike Will Be 25 or 50 Basis Points; "New Fed News Agency": Stop-and-Go Strategy Faces Test
The "New Federal Reserve Newsletter" pointed out that before the release of the CPI, Waller suggested the possibility of a 50-basis-point rate hike in December, and so far, no other Fed officials have publicly responded. In addition to a single 50-basis-point hike, the Fed may also choose to signal consecutive rate hikes in December and January. Wall Street generally believes that inflationary pressures remain stubborn, further strengthening the case for a rate hike in December, though a 50-basis-point increase is not a consensus. The market is concerned about whether the Fed will extend the tightening cycle.
CPI Deals a Blow to US Bonds! 2-Year Yield Surges Over 20 Basis Points Intraday, Gold and Silver Plunge
After the release of the CPI, traders began to expect a lower likelihood of a 50 basis point rate hike in December; this year’s Federal Reserve voting member Logan stated that a faster pace of rate hikes may be needed this winter, with at least two more 25 basis point hikes required before pausing. Subsequently, the rise in U.S. Treasury yields continued to widen, with the 10-year yield climbing back above 5.0% and rising more than 10 basis points intraday; spot gold once fell over 3%, while spot silver at one point dropped more than 4%.
Crypto prices
More
