XRP Faces Selling Pressure Amid Billion-Dollar Exchange Supply
$15.7 billion in exchange-held tokens caps upside potential despite MVRV data suggesting a bottom.
Altcoins Editor: Fabricio Marcilio 1 min read
XRP shows a 365-day MVRV ratio of 0.92. This level means holders are currently down 8% on average from their cost basis. With the price hovering near $1.33, the data points to a potential exhaustion zone for sellers.
Despite this metric, the market is dealing with $15.7 billion worth of XRP held on exchanges. This high volume exposes the asset to risks of further selling pressure. The liquidity available on these platforms acts as a hurdle for sustained recoveries.
Derivatives data shows a deleveraging trend on Binance. Open interest in the exchange's futures contracts dropped from $538.1 million to $453 million. The estimated leverage ratio fell from 0.205 to 0.170 during the same period.
The large-cap altcoin market is facing leverage levels near yearly highs. More than 40% of these assets show concentrated positions. This sector-wide behavior makes XRP more sensitive to global liquidity shifts.
Total open interest for XRP futures exceeds $1.4 billion. Binance holds about 27% of that total, while Bybit accounts for $243.3 million. The landscape reflects a cautious market as traders reduce long positions.
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