XRP is moving through a quieter market phase as excessive speculation cools down and traders reduce risky leveraged positions.

Open Interest is now sitting close to $2.5 billion, much lower than the high levels seen earlier in 2025. This shows that many traders have cut back on leverage after the market became overheated. As a result, Futures-driven price pressure is losing strength, and spot market activity is becoming more important for XRP’s next move.

Funding Rates have stayed near 0.005% and have even turned negative at times. This reflects a cautious mood among traders rather than strong bullish confidence. At the same time, Long and Short Ratios remain close to balanced, even though retail traders are still leaning slightly long.

Liquidations are also low, staying around $1 million per day. This reduces the chance of sharp volatility caused by forced position closures. However, it also means XRP needs real buying demand to keep holding around the $1.43 level. Without stronger demand, the token may continue moving sideways.

Whale Selling Limits XRP’s Breakout Potential

XRP’s market structure is changing as the earlier leverage reset gives more control to spot buyers and long-term holders.

During price rebounds near the $1.30 to $1.50 range, whale transfers to exchanges have increased to around 30,000 to 45,000 XRP. This suggests that large holders are using market strength to sell into available liquidity.

This does not look like panic selling. Instead, it appears to be controlled distribution. Because of that, XRP has avoided a major breakdown, but its upward momentum has also remained limited.

Every time the price tries to move higher, steady whale supply appears and slows the rally. This creates a compression phase where support remains strong, but resistance is difficult to break unless buyer demand increases.

Spot Demand Is Absorbing Futures Pressure

Despite ongoing selling pressure in the derivatives market, spot demand is helping XRP stay stable.

Binance Net Taker Volume has moved deeper into negative territory, reaching close to $392 million in selling pressure. This shows that Futures traders are still aggressively selling XRP.

However, estimated spot demand has climbed toward $1.3 billion, which means real buyers are absorbing much of the available supply. This buying activity has helped XRP recover from the $1.30 area and return toward $1.43.

This shift suggests that control is gradually moving away from short-term Futures traders and toward spot buyers. That is important because spot demand is usually more stable than leveraged speculation.

For XRP to continue higher, this buying pressure must remain strong. If spot demand weakens, the token could return to range-bound trading and struggle to break above resistance.

Final Thoughts

XRP is currently stuck between two major forces. Futures traders are still applying selling pressure, while spot buyers are absorbing supply and supporting the price near $1.43.

The market does not look strongly bullish yet, but it also does not show signs of panic. XRP may remain in a consolidation phase until stronger spot demand appears. A clean breakout will likely depend on whether buyers can absorb whale selling and push the price beyond the current resistance zone.

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