Altcoins News
By Pankaj K
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Surge in Active Addresses Raises Concerns. One of the key indicators contributing to this shift is the dramatic rise in the number of active…
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Derivatives Market Signals Bearish Sentiment. The decline in active addresses is mirrored in the derivatives market, where key metrics are…
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Spot Market Shows More Selling Than Buying. Spot market activity is also reflecting the growing selling pressure on XRP.
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What’s Next for XRP?. The combination of declining active addresses, increasing selling pressure in the derivatives…
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XRP, one of the top cryptocurrencies, is currently facing increasing selling pressure, raising concerns over a potential price drop.
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However, this surge in active addresses seems to have peaked on March 2, after which the number began to decline, signaling a slowdown in trading activity.
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The decline in active addresses is mirrored in the derivatives market, where key metrics are starting to show signs of bearish activity.
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As of the latest data, the OI-Weighted Funding Rate has fallen to -0.0022%, a sharp decline from the positive rate of 0.0103% seen on March 3 when buying activity was high.
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Spot market activity is also reflecting the growing selling pressure on XRP. Data from Coinglass shows that retail investors in the U.S.
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This shift in market activity further suggests that XRP is under increasing downward pressure.
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The combination of declining active addresses, increasing selling pressure in the derivatives market, and strong sell-offs in the spot market all point to a bearish outlook for…
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