$XRP is showing a divergence between activity in the spot market and the derivatives market, as spot CVD across exchanges hit new highs.
Notably, buying pressure across centralized exchange (CEX) spot markets has increased over the past two months, while traders in Binance’s perpetual futures market have continued to favor the sell side.
This is according to CryptoQuant data surrounding the cumulative volume delta (CVD). Specifically, across all centralized exchanges, the estimated Spot CVD climbed from about -$42 million on May 12 to +$406 million by July 7.
This marks an improvement of roughly $448 million, and suggests that buyers have consistently absorbed available $XRP supply during this period. The recent change confirms that the spot market may now be witnessing increased buying pressure.
$XRP Perpetual Market on Binance Shows Opposite Trend
While spot buying has picked up, Binance’s perpetual futures market shows the opposite trend. During the same period, Binance Perpetual CVD fell from around -$48 million to -$783 million, a decline of about $735 million.
The data shows that perpetual traders have remained aggressively on the sell side. While spot buyers accumulated $XRP across centralized exchanges, derivatives traders continued to reduce their exposure or maintain bearish positions.
Moreover, leverage has also continued to fall. Notably, Binance Open Interest dropped from roughly $255 million on May 22 to around $203 million on July 7. This represents a decrease of about $52 million, or slightly more than 20%.
Binance’s spot market has also started to show signs of recovery, although it has not yet moved into positive territory.
Binance Estimated Spot CVD improved from about -$212 million on June 25 to -$173 million on July 7, an increase of nearly $39 million. Essentially, selling pressure on Binance’s spot market has eased, but overall spot flows on the exchange remain negative.
$XRP Pulls Back After Recovery
Meanwhile, $XRP’s recent price action indicates that the latest rally that began earlier this month may now be losing momentum.
The token found support at $1.02 on July 1 before staging a massive recovery. During this rebound, $XRP posted four straight intraday gains, its first streak of that length since March 2026, climbing to a high of $1.183 on July 4.
However, buyers could not push the rally beyond this level. $XRP met resistance and has since continued to pull back, trading around $1.13 at press time. Despite the recent correction, the token remains more than 10% above its July 1 low.
Technical indicators also confirm that the recent upward move has started to weaken, although buyers still hold a slight advantage.
The Directional Moving Index (DMI) shows the +DI falling to 22.97, while the Average Directional Index (ADX) has dropped to 20.9. The lower ADX reading suggests that the strength of the current uptrend is beginning to fade.
However, the +DI remains above the -DI, which stands at 19.4. This means buyers still have the upper hand in the short term despite $XRP moving toward a second consecutive red intraday candle.
Important $XRP Price Levels to Watch
If $XRP extends its current pullback, the first major support sits near the middle Bollinger Band at around $1.09, which matches the $1.10 support level. If sellers push the price below this area, $XRP could revisit the July 1 low of $1.02.
On the upside, the first major obstacle remains the $1.18 region. This level acted as support during the mid-June pullback, but it has now turned into resistance. $XRP’s latest recovery attempt also stalled in this area, which makes it an important level to watch.
The same resistance zone lines up with the upper Bollinger Band near $1.187. A successful move above both levels could give buyers enough momentum to target the $1.30 price level.
Source: Original Article
