XRP shows a pronounced split between rising spot buying activity and mounting sell pressure on Binance perpetual contracts, according to the latest on‑chain analysis.
Spot Demand Climbs to Highest Since Mid‑May
Data from Xaif Crypto reveals that the All‑CEX Estimated Spot Cumulative Volume Delta (CVD) for XRP surged to $267.4 million, a peak not seen since mid‑May. This metric, which gauges the net flow of aggressive buyers versus sellers on major exchanges, flipped from a negative $177 million balance recorded on April 12. The upward swing indicates that investors are injecting fresh capital into XRP through direct purchases, bolstering the coin’s market position.
Binance Futures Sellers Amplify Pressure
Conversely, the Binance perpetual CVD plunged to a record low of –$792 million, starkly contrasting the –$218 million level observed on May 12. The sharp decline signals that futures traders are aggressively shorting XRP, intensifying sell pressure on the derivative side. Analysts suggest that this widening gap between spot and futures markets could set the stage for a short squeeze, catching over‑leveraged investors off guard.
Implications for Crypto Investors
With spot demand surging while futures sentiment turns bearish, investors should monitor XRP’s price volatility closely. The divergent signals underscore the importance of balancing exposure across both spot and derivative positions within the blockchain ecosystem. Continued divergence may drive heightened activity from both retail and institutional participants seeking to capitalize on potential market corrections.