Binance Data Reveals Why XRP Is Struggling at $1.10

XRP lost nearly 7% in twenty-four hours and struggles around $1.10, but the decline is not explained solely by a new wave of sales. Binance data mainly shows a lack of sufficiently aggressive buyers to absorb the supply, while U.S. XRP ETFs no longer provide the support previously observed.

Below $1.10, sellers still strike first

The Cumulative Volume Delta, or CVD, of XRP on Binance showed a negative value of about 4.33 million tokens. This indicator calculates the cumulative difference between purchases and sales executed immediately at the available price.

A negative value means that sellers more readily accept prices proposed by buyers than the other way around. They therefore take the initiative in the order book, which sustains downward pressure when passive demand is not enough to absorb their operations.

Several indicators currently describe this imbalance :

• Binance’s CVD reaches about -4.33 million XRP ;
• Its 30-day average remains close to 0.70 ;
• XRP trades around $1.10 after a daily drop close to 7% ;
• Buyer demand remains weak despite a sharply corrected price.

The gap with the 30-day average shows that the recent situation is more unfavorable than the monthly trend. CryptoQuant mentions a “persistent bearish bias” and estimates that XRP could remain under pressure if enough demand does not come to absorb the sales.

However, the CVD does not allow us to affirm that traders are massively opening new short positions. Sell orders may also come from investors closing their positions, reducing exposure, or undergoing liquidation.

This distinction is important following the recent crypto market purge. A forced sale due to leverage does not necessarily express a lasting conviction against XRP. It nonetheless weighs on the price as long as no buyer steps in.

The real problem comes from a lack of buyers

A decline fueled by liquidations can produce a quick rebound once fragile positions are eliminated. For XRP, this scenario remains limited by weak spot purchases.

Flows to Binance reinforce this concern. The share of deposits in XRP movements on the platform reportedly reached 59.5% over seven days, its highest level since October 2024. Withdrawals represented only 40.4%. Tokens sent to a platform are not automatically sold, but they become immediately available to be sold.

Once on Binance, these XRP face insufficient demand, as indicated by the negative CVD. The combination of high deposits and aggressive sales thus provides a more relevant signal than each of these indicators taken separately.

Institutional support has also stopped. Spot XRP ETFs recorded nearly $19 million in net inflows in October, their second lowest monthly result. They had already failed to prevent the token’s decline.

On November 2, these products saw about $530,000 in outflows. They then posted four sessions with no declared net flows, a first since August. This zero result does not indicate investor flight but reveals the absence of new capital likely to offset sales observed on platforms.

Whales may continue accumulating without causing immediate price increases if their orders stay below the volume sold. Therefore, the price depends less on the existence of long-term buyers than on their willingness to intervene now.

The Binance signal must be confirmed elsewhere

The CVD describes only transactions observed on one market and during a determined period. Its absolute level depends on the chosen starting point. Therefore, its direction should be monitored rather than treating -4.33 million as a universal threshold.

Binance represents a significant share of XRP trading, but it does not summarize the entire market. Orders can evolve differently on Bybit, OKX, Coinbase, or decentralized platforms. A signal concentrated on Binance could reflect the particular behavior of its users rather than a general capitulation.

The first credible improvement would appear if three phenomena occurred simultaneously: a decrease in deposits on Binance, a rebound in the CVD, and the return of inflows into ETFs. In this case, the rebound would be based on identifiable demand rather than solely the closing of short positions.

Conversely, a persistently negative CVD accompanied by new deposits would maintain pressure around the $1 threshold. The current weakness of the XRP price therefore does not come only from the number of sellers. It mainly stems from the fact that, facing them, the buyers most capable of stabilizing the market still remain on the sidelines.