XRP sellers maintain control as Open Interest drops to $350.6 million, one of the lowest levels in recent months. Data shows traders are closing futures positions and reducing leverage, while capital exits the broader market without fresh inflows. The NVT Ratio remains elevated at 162.86, indicating network activity has not justified a higher valuation. Despite these bearish signals, institutional spot XRP ETFs recorded $7.3 million in outflows on July 8th. Real-world adoption continues in Asia, with Japan’s SBI VC Trade noting companies adding XRP to treasury reserves. Ripple also secured the first crypto sponsorship of a major US college athletics program through the University of Kansas Jayhawks.
XRP sellers retain the upper hand as investor participation fades and recovery signals remain limited, according to data from CryptoQuant. Open Interest has dropped to $350.6 million, one of its lowest levels in recent months, indicating traders are closing futures positions and reducing leverage.
While lower Open Interest can sometimes ease selling pressure by flushing out leveraged positions, analysts said it is not the case this time because capital is also leaving the broader market. The trend reflects a lack of meaningful new money entering the asset.
Traders are exiting positions without being replaced by fresh capital, leaving the market with weaker overall participation. On-chain data does not yet point to a stronger recovery, as XRP’s NVT Ratio remains elevated at 162.86, suggesting network activity has not increased enough to justify a higher market valuation.
The combination of falling Open Interest and a persistently high NVT Ratio paints a consistent picture of weakening market conditions. Investor risk appetite has declined significantly, and participants appear exhausted.
On the institutional front, US-based spot XRP ETFs recorded $7.3 million in outflows on July 8th, although the funds have generally held up better than their Bitcoin and Ethereum counterparts. Despite the weak market outlook, XRP continues to see strong real-world adoption in parts of Asia.
Japan’s SBI VC Trade said companies are increasingly adding XRP alongside Bitcoin to their treasury reserves and shareholder benefit programs. The crypto asset also remains one of the most actively traded cryptocurrencies in South Korea.
Ripple expanded XRP’s visibility this week by securing the first crypto sponsorship of a major US college athletics program. Under the partnership, the University of Kansas Jayhawks will display the asset’s logo on game jerseys beginning this fall.
