XRP CVD Readings Turn Nearly $2 Billion More Negative as Open Interest Falls

XRP’s estimated spot and Binance perpetual CVD readings became nearly $2 billion more negative from Sept. 23 to Oct. 16, while futures open interest fell across Binance and Bybit. Estimated spot cumulative volume delta (CVD) across centralized exchanges moved from -$1.9 billion to -$3.2 billion, a $1.3 billion deterioration. Binance perpetual CVD moved from -$812 million to -$1.5 billion, a $688 million deterioration. Adding those changes yields about $1.99 billion; because the endpoint values are rounded, the combined change is nearly $2 billion. CVD compares volume initiated by market buyers with volume initiated by market sellers. A more negative reading means sell-side takers outweighed buy-side takers within that measure. It does not mean the same dollar amount left exchanges or XRP markets.

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