XRP holds $1.30 as falling futures interest signals weak demand

XRP is facing bearish pressure, trading slightly above $1.30 following a decline from its recent $1.50 high. Market sentiment has weakened due to the U.S. Senate's failure to advance the CLARITY Act and the Federal Reserve's 25 basis point interest rate hike. While Ripple maintains that XRP holds a strong legal position following its SEC litigation, derivatives data shows a decline in futures open interest from 2.25 billion to 2.12 billion tokens, suggesting reduced speculative demand.