XRP's Spot Market Stays Healthy Amid Consolidation

XRP's spot market remains healthy despite its recent pullback from the August rally, according to data on Binance. The XRP CVD Confirmation Score has moved into positive territory, indicating that the token's price movement still has a reasonable link with activity in the spot market.

The reading comes as XRP enters a period of consolidation after rising 28.5% in August, its best August performance since 2021. However, selling pressure remains visible across both the spot and derivatives markets.

The 30-day correlation coefficient between XRP's price and its Cumulative Volume Delta (CVD) currently sits at about 0.43, showing a moderate positive relationship between price and spot order flow.