XRP trades near $1.10 as sell-off pressure persists, $1 support in focus

XRP showed a modest recovery on Tuesday, moving alongside a wider uptick in the cryptocurrency market despite ongoing selling pressure and weak on-chain activity. The digital asset traded around $1.097, maintaining levels below its major moving averages as buyers continued to struggle against the prevailing downtrend. Multiple indicators point to substantial continued selling pressure in XRP. According to blockchain analytics provider CryptoQuant, spot and futures markets for XRP have displayed notable activity by large holders, or whales, with a predominant sell-side presence. CryptoQuant also observed intensified trading activity in the spot market, suggesting that the cryptocurrency remains in a correction phase. Technical and market signals indicate that sellers still hold control, limiting any meaningful recovery for XRP in the short term.

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