XRP Price Climbs 5% Amid Heavy Selling Pressure
XRP's price has risen by about 5% between September 16 and September 27, despite heavy selling pressure from traders. According to data from CryptoQuant and CoinGlass, net selling volume grew by about $430 million during this period.
The Cumulative Volume Delta (CVD) fell from negative $2.27 billion to about negative $2.70 billion between September 16 and September 27, indicating a significant increase in net selling volume. Binance traders played a major role in this change, with their exchange volume moving from negative $1.0 billion to about negative $1.2 billion over the same period.
However, despite the heavy selling pressure, XRP's price has held up due to buying activity from spot investors. These traders buy the actual asset rather than betting on its price through contracts. Over the past seven days, net outflows totaled negative $60.33 million, with more XRP leaving exchanges than entering them.