XRP Defies Bears with Rising Price Amid Growing Selling Pressure

XRP has experienced a significant price increase over the past two weeks, climbing from $1.30 to around $1.52 between Sept. 16 and 27.

This rise in price occurred despite aggressive selling activity across both perpetual futures and spot markets, with Binance Perpetual CVD falling by roughly $290 million and All-CEX Estimated Spot CVD dropping by approximately $430 million during the same period.

The open interest on Binance also increased by 32% over this time frame, from around $210 million to $276.5 million, which may indicate that traders were adding short positions as XRP's price pushed higher.

This situation creates a challenge for XRP bears, who could eventually face greater pressure if the token continues to hold its gains and sellers continue to increase their activity.