XRP News: Exclusion from US Digital Asset Stockpile and Bearish Futures Trends

Recent developments in the cryptocurrency world have brought mixed signals for XRP holders. Here’s a closer look at what’s happening.

XRP Exclusion from US Digital Asset Stockpile

US President Donald Trump initially hinted at establishing a crypto reserve including XRP, Bitcoin, and other altcoins. However, a week later, he signed an executive order solely establishing a strategic Bitcoin reserve and a separate US Digital Asset Stockpile. No plans to add to the Digital Asset Stockpile were announced, and XRP did not make it into the stockpile.

XRP Futures Show Increased Bearish Trends Despite Strong Gains for Long-Term Holders

Ripple’s XRP futures have displayed increased bearish trends, with open interest and funding rates largely negative in recent weeks. Despite the high bearish sentiment in the futures market, investors have remained calm likely due to large profits. XRP could flip to a bullish momentum if it holds firm the upper boundary of a descending channel. On Tuesday, XRP declined by 1%, with on-chain and futures data revealing the impact of the recent market downturn. However, XRP’s high-profit ratio has helped dilute its price decline. Since the market crash in early February, XRP futures open interest has remained largely flat, shedding 33% between February 1 and March 18.

Ripple’s XRP Holds Steady Amid Market Downturn

Ripple’s XRP declined by 1% on Tuesday, as on-chain and futures data reveal the impact of the recent market downturn on its investors. XRP futures open interest has remained largely flat since the market crash in early February. The remittance-based token has shed 33% of its OI between February 1 and March 18, per Coinglass data.

XRP’s 7.9% Losses in 4 Days: Support Level to Watch

XRP continued its bearish trend with a 7.9% decline since the weekend. While there is potential for recovery if market sentiment turns around, recent on-chain activity has heightened concerns. The long-term holders’ net unrealized profit/loss (NUPL) mirrors the 2021 price top, which may worry investors. Uncertainty around Bitcoin and a bearish macroeconomic outlook has increased selling pressure in the crypto market. XRP’s derivatives market saw negative funding rates, implying short sellers were dominant. The 1-day timeframe shows a bearish market structure after XRP made a new lower low.