XRP Price Moves in Favor of Sellers

When evaluating the chart's Open Interest, Market Cap, and NVT Ratio together, it is seen that both capital size and futures appetite have weakened in the #XRP market, while no strong recovery has yet formed on the on-chain valuation side.
In the latest data, Open Interest has dropped to $350.6 million, reaching one of the lowest levels in the recent period. This decline indicates that open positions in futures markets are being closed and leveraged investors are withdrawing from the market. Under normal circumstances, this could be a development that reduces selling pressure, but the simultaneous decline in Market Cap to $10.89 billion reveals that not only leverage but also capital is exiting the market. In other words, while positions are being closed, no new money inflows are occurring.
This picture is supported by the NVT Ratio remaining at 162.86. The NVT lingering in high territory suggests that on-chain usage is not accelerating enough to support a revaluation of the market.
Risk appetite in the market has weakened significantly. Investors are tired. Positions are decreasing on the futures side, and market cap is shrinking on the spot side. These data show that price movement in XRP remains in favor of sellers.
⚠️ This is not an advertisement or investment advice. The chart and commentary are for analysis purposes only.