XRP is facing renewed market-structure pressure as selling activity deepens across Binance spot and perpetual markets, while leveraged long positions suffer their largest liquidation spike since late February.

The latest data shows that XRP’s recent weakness is not only a price decline. It is being confirmed by multiple flow and derivatives metrics moving in the same direction: open interest is lower, perpetual CVD has continued to fall, spot CVD has also weakened, and long liquidations have surged sharply.

Since April 14, Binance XRP open interest has declined from $247.5 million to around $233 million, suggesting that leveraged exposure has been reduced during the latest market move.

At the same time, Binance perpetual CVD fell from roughly -$474 million to -$574 million, marking an additional $100 million deterioration in aggressive derivatives flow.

Spot activity also weakened during the same period.

Binance spot CVD dropped by more than $50 million, showing that selling pressure was not limited to futures markets.

The clearest stress signal appeared in the liquidation data. XRP long liquidations jumped to around $4.5 million, the highest reading since late February.

This also exceeded the February spike of roughly $4.3 million, which occurred when XRP traded near $1.34.

The combination points to a synchronized reset in XRP’s market structure.

Long positions appear to have been forced out after several weeks of weakening Binance flows, while spot and perpetual sellers remained active.

Written by Amr Taha