XRP continues to face heightened selling pressure as on-chain data highlights significant outflows from both spot and futures markets across major cryptocurrency exchanges. The asset has struggled to recover in the midst of ongoing market volatility, with analysts watching closely for signs of a reversal.
Perpetual CVD plummets on Binance
Data from the analytics firm Cryptoquant reveals that XRP’s cumulative volume delta (CVD) has shown a steep decline since September 23. The CVD, which measures the net balance between aggressive buy and sell orders, turned more sharply negative over this period, reflecting a surge in sell-side market activity.
On Binance, XRP’s perpetual CVD dropped from -$109 million to roughly -$1.1 billion by November 12. This drop of $991 million indicates that traders have placed significantly more aggressive sell orders, either to initiate new short positions or to close out long positions, than buy orders.
A negative CVD balance suggests that selling orders are overwhelming buying demand, putting additional downward pressure on the price. The recent decline on Binance exceeds previous levels by more than tenfold, signaling a clear shift in market sentiment among traders.
Sellers dominate spot markets across exchanges
Beyond futures contracts, XRP sellers have also taken control of spot trading activity. Aggregated data from leading centralized exchanges shows that XRP’s estimated spot CVD declined from -$400 million to -$2.9 billion in the same timeframe. This $2.5 billion shift in the seller’s favor underscores the dominance of aggressive selling in spot markets as well.
The deepening imbalance between buying and selling activity has increased concerns that XRP could lose its long-held $1 level if selling continues at the current pace.
XRP’s cumulative spot CVD on all major exchanges has moved from -$400 million to -$2.9 billion, demonstrating a pronounced increase in selling activity among traders who are actively closing out positions or opening new shorts.
Further, the absence of strong buying momentum has prevented XRP from staging a meaningful recovery, leaving the asset vulnerable to further declines.
As the pressure intensifies, traders seeking to monitor market shifts and spot significant changes in buy and sell activity around $XRP can benefit from real-time price alerts and coin-specific news. CryptoAppsy’s tracking tools enable users to follow live CVD movements and quickly identify major order flow imbalances, making it easier to react to rapid changes in XRP’s spot and futures markets.
