XRP (CRYPTO: XRP) is struggling below $1.30, but rising buying pressure and a seven-month high in futures trading volume point to a potential rebound.
Buying Pressure Hits 3-Month High
CryptoQuant data shows XRP’s taker buy/sell ratio on Binance has climbed to 1.076, its highest level in three months, signalling a shift toward accumulation as traders look to establish new positions near $1.30.
A ratio above 1 indicates that aggressive buying volume exceeds selling volume, suggesting buyers are becoming increasingly active.
The indicator previously fluctuated below 1, reflecting persistent selling pressure.
Sustained buying pressure and stronger trading volumes will be necessary to confirm whether the shift can support a lasting recovery.
Futures Volume Peak At 7-Month High
XRP’s monthly futures trading volume surged to a seven-month high in October, reflecting heightened derivatives market activity.
Binance dominated trading activity with $34.57 billion, followed by Bybit and OKX.
Combined futures trading volume across the three exchanges reached approximately $60.4 billion, CryptoQuant data noted.
The surge suggests growing interest from traders seeking to capitalize on short-term volatility or hedge existing positions.
Although, rising futures volume does not necessarily indicate bullish momentum, as increased short-selling and speculative activity can also drive volumes higher.
Can Rising Demand Fuel XRP Rally?
XRP’s key metrics hitting new highs signal renewed trader interest despite weak price action. Over the past 30-days, XRP lost around 14%.
But, the lack of a meaningful price recovery suggests sellers continue to absorb buying demand.
Crypto analyst Ali Martinez noted on Tuesday that reclaiming $1.30 could pave the way for a rally toward $1.40, strengthening the bullish outlook.
Conversely, weakening buying pressure could push XRP toward a retest of the $1.25 support level.
Image: Shutterstock