XRP Futures Show Neutral Sentiment Amid Price Drop and ETF Speculation, Raising Caution Over Sustained Gains

Key Points

1. XRP futures open interest remains elevated at $8.8 billion despite a 15% price drop from $3.66, indicating traders continue to hold leveraged positions amid uncertainty.

2. Onchain activity on the XRP Ledger is low, with only $134 million in tokenized assets and minimal DeFi adoption, limiting bullish momentum potential.

3. ETF speculation has fueled optimism for XRP, but current market sentiment remains neutral, with futures trading at a 6% to 8% premium over spot prices.

4. XRP's price drop was accompanied by a $2.4 billion decrease in futures open interest, though it remains 48% higher than one month ago in XRP terms.

5. Decentralized exchange (DEX) activity on the XRP Ledger is not among the top 50 blockchains, lagging behind competitors like Sui and Avalanche.