$XRP Perpetual CVD Plunges to -$882M Amid Aggressive Selling

The XRP perpetual Contract Value Difference (CVD) on Binance has dropped to -$882.1 million, signaling continued aggressive selling in XRP perpetual futures. This comes as the price of XRP fell from $1.69 to $1.37, a near 19% drop.

The decline in open interest is also notable, with XRP's open interest on Binance falling by 27.2% from $323 million to $235.3 million. This suggests that traders have reduced their leveraged exposure during the decline.

The data indicates that aggressive selling remains present, but it does not prove that only long positions were closed. The reduction in leverage could eventually give XRP a healthier market structure by reducing the risks associated with crowded positions.