# XRP CVD Readings Turn Nearly $2 Billion More Negative as Open Interest Falls By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/34365 Published: 2026-10-18T12:32:49.000Z Updated: 2026-10-18T12:32:49.000Z Section: Investing > Between Sept. 23 and Oct. 16, estimated spot CVD changed by $1.3 billion and Binance perpetual CVD by $688 million. 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. The combined figure adds changes across two distinct readings; it does not track cash transfers. The spot CVD measure covers a 90-day period. Because each endpoint reflects that longer measurement window, the difference between the readings does not establish how much net selling occurred only from Sept. 23 to Oct. 16. Spot CVD covers centralized exchanges, while Binance perpetual CVD reflects a separate derivatives market; combining the changes does not turn them into one cash balance. Futures open interest contracted on both venues. Binance’s reading declined 24.5%, and Bybit’s fell 28.1%, bringing the combined measure down 26.5% over the same dates. Open interest measures outstanding derivatives positions, so the decline shows that exposure shrank. It does not identify which side drove the reduction, whether traders closed long or short positions, or the direction of positions that remain open. A similar divergence between price and CVD appeared earlier in September. From Sept. 16 to Sept. 27, XRP rose while estimated spot CVD shifted from about -$2.27 billion to -$2.70 billion. The [earlier rise in XRP alongside a more negative spot CVD reading]() shows that a falling CVD reading does not by itself determine price direction. The latest readings indicate sell-side taker pressure alongside lower derivatives exposure. They do not establish that new short positions drove the decline in open interest or predict XRP’s next price move. ## Links in this article - [earlier rise in XRP alongside a more negative spot CVD reading](https://www.tokenpost.com/news/investing/25188)