XRP has lost almost 7% in twenty-four hours and is struggling around $1.10, but the decline is not only explained by a new wave of sales. Binance data especially shows an absence of buyers aggressive enough to absorb the supply, while US XRP ETFs no longer provide the support previously observed.
In brief
- XRP fell by almost 7% in 24 hours and struggled to stay around $1.10.
- On Binance, the negative CVD shows that sellers maintain control of the market.
- High XRP deposits on Binance increase the risk of further sales.
- US XRP ETFs no longer provide the capital inflows needed to support the price.
- A lasting rebound will depend on the return of buyers and a reduction in selling pressure.
Below $1.10, sellers still strike first
The Cumulative Volume Delta, or CVD, of XRP on Binance showed a negative value of around 4.33 million tokens. This indicator calculates the cumulative difference between purchases and sales executed immediately at the available price.
A negative value means that sellers are more accepting of the prices offered by buyers than the reverse. They therefore take the initiative in the order book, which maintains downward pressure when passive demand is no longer sufficient to absorb their operations.
Several indicators describe currently this imbalance:
- Binance CVD reaches around −4.33 million XRP;
- Its thirty-day average remains close to 0.70;
- XRP is trading around $1.10 after a daily drop of nearly 7%;
- Buyer demand remains weak despite a price that has already significantly corrected.
The difference with the average of the last thirty days shows that the recent situation is more unfavorable than the monthly trend. CryptoQuant evoked A “persistent bearish bias” and believes that XRP could remain under pressure if sufficient demand does not absorb the sales.
However, the CVD does not allow us to confirm that traders are massively opening new bearish positions. Sell orders may also come from investors closing their positions, reducing their exposure or undergoing liquidation.
This distinction is important after the recent crypto market purge. A forced sell under leverage does not necessarily express a lasting conviction against XRP. It nevertheless weighs on the price as long as no buyer takes over.
The real problem comes from the absence of buyers
A decline fueled by liquidations can produce a rapid rebound once weak positions are eliminated. For XRP, this scenario remains limited by the weakness of spot purchases.
The flows to Binance reinforce this concern. The share of deposits in XRP movements on the platform would have reached 59.5% over seven days, its highest level since October 2024. Withdrawals now represented only 40.4%. Tokens sent to a platform are not automatically sold, but they become immediately available to be sold.
Once arriving on Binance, these XRPs encounter insufficient demand, as indicated by the negative CVD. The combination of high deposits and aggressive sales thus provides a more relevant signal than each of these indicators taken separately.
Institutional support also stopped. Spot XRP ETFs had seen nearly $19 million in net inflows in October, their second-lowest monthly result. They had already failed to prevent the decline of the token.
On November 2, these products saw approximately $530,000 in outflows. They then had four sessions without any declared net flow, a first since August. This zero result does not constitute a flight of investors, but it reveals the absence of new capital likely to compensate for the sales observed on the platforms.
Whales can continue to accumulate without causing an immediate rise if their orders remain below the volume sold. The price therefore depends less on the existence of long-term buyers than on their willingness to intervene now.
Binance signal needs to be confirmed elsewhere
The CVD only describes transactions observed on a market and during a specific period. Its absolute level depends on the chosen starting point. We must therefore monitor its direction rather than treating −4.33 million as a universal threshold.
Binance represents a significant portion of XRP trading, but it does not summarize the entire market. Orders may move differently on Bybit, OKX, Coinbase or decentralized platforms. A signal focused on Binance could reflect the particular behavior of its users rather than a general capitulation.
The first credible improvement would appear if three phenomena occurred simultaneously: a decrease in deposits on Binance, a recovery in the CVD and the return of inflows into ETFs. In this case, the rebound would be based on identifiable demand rather than just closing short positions.
Conversely, a lastingly negative CVD accompanied by new deposits would maintain pressure on the $1 threshold. The current weakness in the price of XRP therefore does not only come from the number of sellers. It is mainly due to the fact that, compared to them, the buyers most capable of stabilizing the market still lag behind.
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