XRP Faces Its Strongest Selling Pressure Since May: What’s Next for Ripple’s Price?

XRP’s price action has remained choppy this week. It briefly fell below $1 before a modest recovery. But that strength faded quickly, and it has since settled near $1.01.

New data suggests that selling pressure on the token has reached its highest level since May on Binance.

Downside Risk Grows

According to CryptoQuant’s latest findings, the exchange’s Taker Buy/Sell Ratio has fallen sharply to around 0.86, its lowest reading since last May. A reading below 1 means traders are executing more sell orders than buy orders, which indicates clear selling pressure in the derivatives market.

The ratio has stayed below 1 for most of the recent period. There have been brief moves above that level, but they failed to develop into a lasting trend. XRP has also continued to fall from the highs recorded in previous months. This adds to signs of weak spot demand and speculative interest.

However, the low ratio does not mean XRP must continue declining. It mainly shows a temporary imbalance between buyers and sellers in the market. If the ratio moves even lower, downward pressure on the asset could increase. On the other hand, if the ratio moves back above 1 and holds, buying interest could improve. This would be more significant if it came with a stronger price and higher buying volume.

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