Recent analysis by Dom reveals a striking trend in XRP trading on Upbit, highlighting a persistent pattern of negative net selling. According to the experts cited in the publication, the situation is becoming critical, especially when compared to trading behaviors observed on other major exchanges, particularly Binance.
Analysis of XRP Trading on Upbit
The analysis, which examined 82 million trades on Upbit, indicates that there has been only one week of positive net selling over a span of 46 weeks. This consistent outflow of XRP suggests a lack of confidence among traders on Upbit, potentially influenced by market sentiment and regulatory concerns.
Comparison with Binance
In comparison, Binance has shown significantly lower sell pressure, indicating a more stable trading environment for XRP. This disparity raises questions about the factors driving trader behavior on different platforms and the overall health of the XRP market. As the crypto landscape continues to evolve, understanding these dynamics will be crucial for investors and analysts alike.
XRP has recently faced a notable decline in price, dropping below the 1.450 mark amid significant resistance levels. This situation contrasts with the ongoing negative net selling trend observed on Upbit, as detailed in the analysis.
