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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InXRP is facing significant selling pressure as market sentiment shifts, reflecting a decline in appetite among both institutional and retail investors. According to reports, US spot XRP ETFs recorded approximately $7.2 million in net outflows for the week ended July 10. Simultaneously, XRP futures markets saw a reduction of roughly $700 million in open bets, signaling a broad liquidation of positions as technical indicators across the crypto sector weaken.
This downturn occurs as major altcoins face similar headwinds, with market sentiment dampened by recent price volatility in benchmark assets. Compared to historical performance, the loss of $700 million in open interest represents a sharp negative pivot that undermines the bullish momentum built over previous months. Per market data, these movements highlight a cautious stance as investors await further clarity on regulatory and macroeconomic factors impacting the digital asset space.
Technically, traders are monitoring XRP support levels to prevent further slides toward new lows, particularly given the current lack of updated pricing data. Looking ahead at the economic calendar, while there are no direct crypto-specific catalysts, markets are focused on upcoming US Federal Reserve speeches, such as Governor Bowman's address on July 7. These events could influence global liquidity and dollar strength, which historically impacts the performance of digital assets like XRP.