XRP Spot Demand Hits 8-Week Peak Amid Bearish Derivatives Market

XRP's spot market demand has surged to its highest level in eight weeks, reaching $388.6 million on July 23, according to data from CryptoQuant.

This increase shows a rise in aggressive buying across centralized spot exchanges, indicating that buyers have returned to the market in greater numbers.

The trend looks different in the derivatives market, where perpetual futures traders continue to favor selling, with Binance Perpetual CVD remaining deeply negative at around -$547.4 million.