- XRP price is struggling to establish direction amid declining demand from both retail and institutional investors:

There has been decreased interest in XRP derivatives, with futures open interest volume reaching approximately $2.39 billion on Tuesday and Monday. Looking at the past, open interest volume rose to $2.87 billion on March 17, but has declined amid continued risk-off sentiment.

CoinGlass data also shows that retail investor interest is significantly lower than the all-time high of $10.94 billion, the level that coincided with XRP reaching $3.66, its current all-time high in July. If derivatives demand does not recover steadily, XRP recovery will be extremely difficult.

Daily trading information for XRP futures contracts | Source: CoinGlass

Similarly, demand for XRP spot index ETFs has declined, with weak activity on Monday. Although XRP recorded inflows of $1.98 million on Friday, overall sentiment remains weak. SoSoValue data indicates there have been only two days of inflows to U.S.-listed index ETFs since March 6. Total inflows are $1.21 billion, with net assets under management at $1.01 billion.

XRP ETF flows | Source: CoinGlass

A report issued by CoinShares on Monday on capital flows related to cryptocurrencies noted that the Federal Reserve's hawkish stance on interest rate cuts in 2026 continues to impact the market, alongside uncertainty stemming from Middle East conflict.

The CoinShares report stated that "digital asset investment products recorded inflows of $230 million last week, marking a notable slowdown compared to previous weeks. While prevailing opinion attributes this slowdown to escalating Iran-related conflict and its negative impact on sentiment, we believe the more likely cause is the market's interpretation of Wednesday's Federal Reserve meeting as 'hawkish hold.'"
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