Futures
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$XRP ETF narrative is starting to lose steam.
Inflow momentum is fading, long-term holders are quietly trimming positions, and leverage has flushed down to $450M, the lowest since late 2024.
When ETFs slow, LTHs step aside, and OI collapses, price stops being supported and starts being tested.
What comes next isn’t hype-driven.
It’s a confidence check.