XRP Supply Is Thinning and Leverage Is Absent. Learn What Happens When One Of Those Changes

XRP is trading 16% below its March highs while experiencing significant exchange outflows totaling $11.23 billion in net withdrawals, yet derivative markets show minimal leverage conviction with open interest stuck near $200 million. The market exhibits conflicting signals: thinning supply suggests potential upside sensitivity, but absent speculative positioning and failed attempts to reclaim key moving averages indicate price weakness may persist without a catalyst.