Data from the Long/Short Volume Ratio for XRP contracts on Binance shows a convergence between long and short trading volumes, with a slight tilt toward selling pressure, as the asset trades at around $1.0586.

According to the data, total long volume reached approximately $171.64 million, compared to short volume of about $175.10 million, indicating that selling volume slightly outweighs buying volume. Based on these figures, the long-to-short volume ratio stands at approximately 0.98, meaning that selling volume marginally exceeds buying volume.

This reading points to relatively balanced buying and selling activity in the derivatives market, with a slight advantage for sellers. This is particularly relevant when assessing trader behavior, especially as XRP's price retreats toward the $1.05 level. The higher selling volume may reflect continued caution toward the asset and increasing selling pressure in the futures market.

Given the current data, the possibility of XRP falling below the $1.00 mark remains, particularly if selling volume continues to outpace buying volume and pressure in the derivatives market intensifies. The $1.00 level represents a key psychological threshold, and a sustained break below it could trigger additional selling pressure and push the price lower, especially if accompanied by rising trading volumes and liquidations of leveraged long positions.

Written by Arab Chain