The cryptocurrency market has experienced recent volatility, with XRP struggling to maintain its momentum. As of this writing, XRP was trading at $2.13 after a 1.3% drop in the past 24 hours and a sustained week-long downward trend, marking a significant decline from its July peak of $3.65. This decline has left investors cautious. 27% decrease in daily spot trading volume further highlights a slowdown in market activity, suggesting traders are reducing their positions. CryptoQuant analyst PelinayPA noted the emergence of negative funding rates for several days, indicating a significant increase in short positions compared to long positions. This seller-weighted situation reinforces the downward pressure already evident in XRP’s price chart. The analyst predicts the price might retest the $2-$1.9 range if this trend continues, while further negative funding rates could drive a temporary price spike to the $2.25-$2.35 range.