XRP, like other leading cryptocurrencies, is under renewed pressure this week. The coin slipped below $1.31 on Tuesday, with fading trader interest, weakening derivatives metrics, and deteriorating technical structure, suggesting downside risk for XRP. There is a potential for a deeper correction in the near term, with the ongoing crisis in the Middle East piling pressure on the broader crypto market. On-chain data signals fading investors’ interest At the moment, Santiment’s Social Dominance metric for XRP supports a bearish forecast. The metric measures the share of XRP- and XLM-related discussions across the cryptocurrency media. XRP has been in a downtrend over the past two weeks, and its Santiment Social Dominance index now reads 0.058%.
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