XRP has experienced weeks of downward price movement, accompanied by coordinated selling activity across both futures and spot markets. The asset has fallen from $1.55 in late September to $1.05 currently.
Futures traders have maintained sell-dominant positions since late August—a streak spanning two and a half months. Spot traders, traditionally neutral through most of 2025, shifted to sell-dominant positioning in October for the first time this year. This alignment of selling pressure across both market types suggests potential weakness beyond short-term trading bets, as spot selling typically indicates actual holders exiting positions.
Trading volume has remained elevated across both markets since late August, despite the price decline. Futures volume reached "overheating" levels through September and early October before cooling slightly, while spot volume moved into sustained "heating" territory beginning in early September. The combination of high volume with declining prices suggests liquidation activity rather than accumulation.
Large whale orders have remained active on both futures and spot markets since early October, a pattern previously observed during June through August when XRP traded between $1 and $1.25. The size of these orders indicates significant capital movement, though available data does not reveal whether whales are buying or selling. Market observers note that whale positioning at current price levels may influence the asset's near-term direction.
