XRP was under pressure over the past 24 hours, with the Binance XRP CVD at approximately -4.33 million XRP and the token down nearly 7%, according to CryptoPotato. The publication said XRP was trading near $1.10. Other major crypto assets also pulled back over the period, it reported.
The cumulative volume delta reading points to more selling than buying through market orders, CryptoPotato reported. The publication said XRP could remain under pressure if that pattern persists without sufficient buying demand to absorb the selling. It said the selling pressure had become more noticeable at relatively low XRP price levels.
The trading data comes alongside a weak start to November for spot XRP exchange-traded funds, according to CryptoPotato. The publication reported a withdrawal on November 2, followed by four trading days without fresh inflows or outflows. That followed nearly $19 million in net inflows during October, a month in which the funds did not help XRP make gains, it said.
What the Binance XRP CVD shows
CryptoPotato reported that CryptoQuant's Binance XRP CVD reading was negative as XRP traded near $1.10. A negative reading means market sell orders outweigh market buy orders, the publication said, putting the balance of that trading activity on the sellers' side.
Selling pressure had become more noticeable with XRP at relatively low price levels, according to CryptoPotato. The publication said sellers continued to execute more market orders than buyers, a measure of the imbalance rather than a tally of all trading activity.
CryptoPotato also reported a divergence between the current cumulative reading and the 30-day average CVD, which stood at nearly 0.70. The latter figure is an average over 30 days, while the approximately -4.33 million XRP figure is the current cumulative reading cited by the publication. The reported average was positive, in contrast to the negative cumulative figure.
The Binance XRP CVD does not, by itself, establish that traders are opening new short positions, CryptoQuant explained, according to CryptoPotato. That distinction matters because the indicator describes an imbalance in market orders, not necessarily the purpose behind each sale.
CryptoPotato noted that sales can also result from traders closing existing positions or liquidating holdings. Those possibilities mean a negative reading should not automatically be treated as evidence of fresh short positions, the distinction CryptoQuant made in its explanation. The reading therefore identifies which side has more market orders without specifying the reason traders are selling.
Whale accumulation and October fund flows
CryptoPotato reported that whale accumulation had not supported XRP's price. It also said spot XRP exchange-traded funds attracted nearly $19 million in net inflows during October, but those flows did not help the token make gains during the month.
The October total left the funds in positive territory for the month, according to CryptoPotato. Even so, the publication said it was their second-worst month for inflows, providing a comparison for the nearly $19 million received.
The whale accumulation and exchange-traded fund figures describe separate sources of demand, and neither was accompanied by the price support described in CryptoPotato's report. For the funds specifically, the publication said XRP failed to gain during October despite their net inflows. The reported inflows nevertheless kept the funds' monthly total above zero.
The October fund total preceded the weaker start to November reported by CryptoPotato. The change in the flow figures adds fund activity to the picture of XRP trading near $1.10, although the Binance XRP CVD measures market orders rather than exchange-traded fund flows. The publication's account separates the negative trading reading from the earlier monthly fund inflows.
November XRP fund withdrawals and zero flows
Investors withdrew nearly $530,000 from spot XRP exchange-traded funds on November 2, CryptoPotato reported. The withdrawal followed October's nearly $19 million in net inflows, shifting the reported fund activity from a positive monthly total to an outflow on that November date.
No new inflows or outflows were recorded over the next four trading days, CryptoPotato reported, citing SoSoValue data. SoSoValue recorded $0.00 in net flows on each of Tuesday, Wednesday, Thursday and Friday, according to the publication.
CryptoPotato said the four-day stretch was the first period of that length without reportable XRP fund activity since August. The sequence followed the November 2 withdrawal rather than a new run of reported inflows after that date. The four daily readings each showed zero net flows, according to the SoSoValue data cited by the publication.
The fund figures and the Binance XRP CVD offer different views of activity around the token: one tracks exchange-traded fund flows, while the other reflects the balance of market orders on Binance. CryptoPotato reported both the negative trading reading and the subsequent absence of fresh fund flows. It said XRP could remain under pressure if the selling pattern continues without enough buying demand to absorb it.
Conclusion
CryptoPotato reported that XRP had fallen nearly 7% over 24 hours while CryptoQuant's Binance cumulative volume delta stood at about -4.33 million XRP. The negative reading reflects an excess of market sell orders, but CryptoQuant cautioned, according to the publication, that it does not automatically show new short positions. Spot XRP exchange-traded funds also recorded a November 2 withdrawal and four subsequent trading days without fresh flows. CryptoPotato said continued selling could keep XRP under pressure if buying demand is insufficient to absorb it.
Frequently Asked Questions
What does Binance XRP CVD of -4.33 million XRP mean?
CryptoPotato reported that CryptoQuant's cumulative volume delta for XRP on Binance was approximately -4.33 million XRP. A negative reading means market sell orders outweigh market buy orders, according to the publication. CryptoQuant cautioned that the figure alone does not necessarily mean traders are opening new short positions.
How much did XRP fall while trading near $1.10?
XRP fell nearly 7% over the preceding 24 hours, CryptoPotato reported, with the token trading near $1.10. The publication also said selling pressure had become more noticeable at relatively low price levels, as sellers continued to execute more market orders than buyers.
How much did spot XRP exchange-traded funds receive in October?
Spot XRP exchange-traded funds attracted nearly $19 million in net inflows during October, according to CryptoPotato. The publication said the funds remained positive for the month, but it was their second-worst month for inflows. XRP did not make gains during October despite those fund flows, it reported.
What happened to XRP fund flows after the November 2 withdrawal?
CryptoPotato reported that investors withdrew nearly $530,000 from spot XRP exchange-traded funds on November 2. The following four trading days had no fresh inflows or outflows, with SoSoValue recording $0.00 in net flows each day. CryptoPotato said it was the first four-day stretch without reportable activity since August.
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