XRP is facing intensified selling pressure across spot and futures markets, according to data from crypto analytics platform Cryptoquant, as the asset struggles amid broad crypto market volatility and repeated failed recovery attempts.
The data show sellers have dominated both XRP’s spot and futures activity, putting the token at risk of losing the long-held $1 level. Momentum remains extremely weak, according to the report.
Binance perpetual CVD drops sharply
Since Sept. 23, XRP’s cumulative volume delta (CVD) across major cryptocurrency exchanges has shown aggressive selling. As of Nov. 12, XRP’s perpetual CVD on Binance fell from -$109 million to about -$1.1 billion.
CVD measures the difference between the volume of aggressive buy orders and aggressive sell orders over time. A negative reading indicates more aggressive selling than buying. The roughly -$991 million negative balance on Binance’s perpetual CVD signals stronger selling pressure, with the negative balance more than 10 times its previous level.
That indicates traders placed significantly more market sell orders than buy orders, either by opening short positions or closing existing long positions.
Spot selling imbalance widens by $2.5 billion
Spot activity has also been dominated by sellers across major crypto exchanges, including Binance. XRP’s All CEX Estimated Spot CVD moved from -$400 million to -$2.9 billion over the same period, a $2.5 billion increase in the imbalance favoring sellers.
According to the data, spot traders have been selling XRP more aggressively rather than buying, adding to pressure that the report links to further price declines.
