XRP futures traders have been selling heavily since late August, with a taker buy-sell indicator dominated by selling for roughly two and a half months. Since October, spot trading has also been sell-dominated for the first time this year, suggesting that actual XRP holders are exiting their positions. XRP has fallen from $1.55 in late September to $1.05, amid elevated activity in both spot and futures markets. Whales have been placing large orders across both markets since early October, although their direction remains unclear. Their decision around the $1 level could heavily influence where XRP goes next.
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