Binance, one of the largest cryptocurrency exchanges known for its high trading volumes and liquidity, continues to display strong selling pressure on XRP, according to the latest CryptoQuant analysis. The digital asset, once trading above $2.00 earlier this year, has now dropped to about $1.07 as persistent sell orders dominate the market.
Binance CVD signals continued downside
CryptoQuant, a platform specializing in on-chain and market analytics for digital assets, observed that Binance’s XRP Cumulative Volume Delta (CVD) sits near negative 6.93 million. This persistent negative reading, which has remained steady for weeks, highlights a prolonged period where sell orders significantly outpace buy orders.
The CVD metric is considered an indicator of genuine order flow, reflecting whether actual market participants are accumulating or distributing an asset. In XRP’s case, the prolonged negative figure indicates sellers remain in control, showing the decline from $2.00 to current support levels has been under consistent selling pressure.
Even with the token’s decrease to $1.07, CryptoQuant’s analysis shows that buy-side demand has not recovered, and sellers continue to shape Binance’s order book dynamics.
Additional data from Binance revealed a scarcity index at its highest level since mid-2024, demonstrating that even with low prices, some supply constraints persist on the platform. CryptoQuant contributor ArabxChain, who tracks multiple XRP metrics, built the CVD chart that underpins this analysis.
Mini dictionary: Cumulative Volume Delta (CVD), a technical indicator in crypto trading, tracks the difference between the cumulative sum of buy and sell orders, helping traders identify which side—buyers or sellers—dominates order flow on exchanges.
| Metric | Earlier in 2026 | Current (July 2026) |
|---|---|---|
| XRP Price | $2.00 | $1.07 |
| Binance CVD | Not specified | -6.93 million |
| Scarcity Index | Lower | Highest since mid-2024 |
Confirmation score remains subdued
The 30-day Price-CVD Confirmation Score for XRP hovers around 0.84, a figure that, in isolation, might appear stable or even slightly optimistic. However, CryptoQuant cautions that this level is not sufficient to signal a buying reversal. Instead, the score suggests the link between price and order flow is stable but not yet favoring a bull trend.
The current reading of 0.84 implies buying strength is lacking and does not represent a clear shift in momentum. A meaningful trend reversal would require CVD to turn positive together with an increasing confirmation score.
A true recovery in demand will only become evident if both order flow and the confirmation score improve in tandem. At present, neither metric points to renewed support for buyers.
Background: Ripple’s legal history and current sentiment
Ripple, the company behind XRP, has previously faced significant challenges. CEO Brad Garlinghouse recently shared that at the peak of its legal conflict with the US Securities and Exchange Commission in 2020, Ripple considered shutting down completely. The lawsuit posed a serious risk to the company’s survival, a decision that contrasts sharply with today’s ongoing but less existential market struggles for XRP traders.
In July 2026, market participants are instead responding to fluctuations in leverage and funding rates. Separate findings from CryptoQuant documented that while Binance funding rates surged 266%, open interest dropped to $399 million, signaling reduced leverage in the market. Despite these changes, conviction among buyers remains weak, as shown by the persistently negative spot CVD readings.
Outlook for XRP on Binance
Any significant turnaround would require a rise in CVD into positive territory and an improvement in the confirmation score, an event not yet seen on Binance. Until then, order flow remains negative, and XRP continues to move around the $1.07 mark.
