Amr Taha2026-11-12

XRP Faces $2.5B Shift Toward Spot Selling as Binance Perpetual CVD Records Another $991M Decline

XRP has faced sustained selling pressure across spot and perpetual futures markets since September 23, with aggressive selling activity dominating trading on Binance, Bybit, and centralized spot exchanges through November 12. On Binance, XRP Perpetual CVD moved from -$109 million to approximately -$1.1 billion, a $991 million shift toward net aggressive selling. The negative reading expanded 10.1 times, reflecting persistent sell-side activity that may involve traders opening short positions or closing existing longs. Similar behavior appeared on Bybit, where Perpetual CVD moved from -$4.6 million to -$29 million, expanding its negative reading approximately 6.3 times. Spot markets recorded an even larger shift. All CEX Estimated Spot CVD moved from -$400 million to -$2.9 billion, representing a $2.5 billion increase in the cumulative imbalance favoring aggressive sellers. The negative reading expanded 7.25 times. These figures show that aggressive selling was not limited to derivatives traders. Spot market participants also executed substantially more sell volume than buy volume through market orders. This divergence between the recent pace of price declines and persistent aggressive selling may suggest some absorption of selling pressure, although it does not confirm a bullish reversal.