Crypto
XRP Shows Strength Despite Weak Futures Activity And ETF Outflows
XRP stays bullish despite weak futures activity and ETF outflows, with technical indicators pointing to further upside potential.
1d ago 4,280
BLOCKINSIDERLoadingXRP stays bullish despite weak futures activity and ETF outflows, with technical indicators pointing to further upside potential.
XRP has extended its bullish streak for the second consecutive day, gaining 2.05% to reach $1.11 today, July 10, 2026. Despite this optimism, on-chain datasets from CryptoQuant and SoSoValue tell a different story, pointing to fear among market participants, including crypto and Wall Street investors.
Recently, an analyst at CryptoQuant shared insights on X, revealing that XRP futures contracts on Binance show a significant decline in recent days. In fact, it fell to approximately 397 million XRP, a record low over the past three months.
As per the analyst, the decline in open interest indicates a reduction in the number of outstanding futures contracts, either because traders are closing existing positions or because fewer new positions are being opened. “When this decline occurs alongside falling prices, it often reflects weaker risk appetite and an outflow of liquidity from the futures market, resulting in lower leverage levels compared with previous periods,” the analyst added.
In addition to this, CryptoQuant’s XRP Exchange Reserve metric on Binance also recorded a notable jump over the past 48 hours. As per the data, Binance’s XRP reserve has surged from 2.610 billion to 2.619 billion tokens, equivalent to a jump of 9 million XRP on the exchange.
This jump shows that investors and long-term holders might be moving their XRP holdings from wallets to the exchange for a potential selloff. In crypto, rising exchange reserves typically flash a bearish signal.
Meanwhile, SoSoValue data suggests that institutional and Wall Street interest also appears to be fading, as a notable $7.29 million in outflows has been recorded in the United States Spot XRP exchange-traded funds (ETFs).
All these datasets together potentially suggest that investors and long-term holders might be fearful due to the ongoing market uncertainty.
Now the real question is whether these bearish datasets impact XRP’s upward momentum, or whether a decline could occur in the coming days.
According to the TradingView daily chart, XRP’s short-term bias appears bullish. XRP successfully retested the breakout level of $1.08. In fact, the price has also formed a bullish reversal morning star candlestick pattern, which suggests that a potential reversal is on the horizon.
Based on the current price action, if the XRP price remains above the $1.08 level, the short-term bullish outlook remains intact. If it happens, the asset could see a price surge of 12% and may reach the $1.26 level in the coming days.
However, this bullish thesis could be invalidated if the XRP price falls below the $1.08 level, which could open the door for a 13% decline.
On the other hand, XRP continues to trade below the 200-day Exponential Moving Average (EMA), indicating the asset’s broader bearish outlook, with sellers remaining in control.
Meanwhile, the Average Directional Index (ADX), a technical indicator that measures trend strength, reads 17.13, below the key threshold of 25, indicating that XRP has weak trend strength.
From the derivative side, it appears that traders are following the current trend. As Coinglass’s XRP OI-weighted funding rate remains positive at +0.0070%, it indicates that traders holding long-leveraged positions have strong bullish conviction, as they are paying traders holding short positions.
This further strengthens XRP’s short-term bullish outlook.
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