3 reasons why trader demand for XRP evaporated: Is $1 next?
Trader demand for XRP has collapsed due to declining futures volume, reduced leverage, and broad-based selling pressure across all wallet sizes.Summary
Trader demand for XRP is showing significant weakness in December, evidenced by three key factors suggesting a risk-off market sentiment, even near the $2.00 support level. First, XRP futures taker buy volume on Binance has plummeted by nearly 96% since July, indicating a severe contraction in buying pressure. Second, the Estimated Leverage Ratio (ELR) has fallen to 0.18, signaling widespread deleveraging as traders close leveraged positions, which reduces speculative interest. Third, on-chain data shows negative cumulative volume delta across retail, mid-sized, and large wallets throughout December, confirming consistent net selling pressure. This environment of low demand and low leverage suggests XRP is consolidating or faces further downside risk unless liquidity improves.
(Source：Cointelegraph)