XRP Spot Buying Reaches New High as Futures Traders Bet Big

XRP's spot buying has reached its highest level since early June, according to data shared by CryptoQuant analyst Amr Taha.

The All CEX Estimated Spot Cumulative Volume Delta (CVD) climbed to about $388.6 million on July 23, indicating stronger buying pressure from spot traders.

This trend stands in contrast to the Binance perpetual futures market, where aggressive sell orders continue to dominate trading, with a negative CVD of roughly -$547.4 million.

The divergence between spot and derivatives markets is notable, as rising open interest on Binance suggests new leveraged short positions are entering the market, despite the increase in bearish positioning among futures traders.