Ripple$XRP : Selling Pressure Rising, Demand Low

According to CryptoQuant, the Taker Buy/Sell Ratio for XRP has dropped to 0.93. The metric measures the amount of buying versus selling in the derivatives market. Values ​​above 1 indicate bullish sentiment, while values ​​below 1 indicate sellers are in the lead.$LINK $SUI

In the case of Ripple, this could be due to profit-taking by traders who held long positions. Such selling puts downward pressure on the price. It is therefore not surprising that the price of XRP has fallen to $1.42 at the time of writing. The network growth metric also shows that sellers are in control. It tracks the number of new addresses making their first successful transaction on the blockchain.

When it rises, it means that new participants are buying the asset. However, this does not apply to Ripple. According to Santiment, this indicator for the XRP Ledger has fallen sharply. If the trend continues, the selling pressure will remain and the price may fall even further.