Everyone’s selling XRP right now, but why?

XRP [XRP] has been sliding on the charts for weeks, and it looks like everyone’s selling their stash right now.

Whales have been steady though. They’ve been trading big, but we don’t quite know whose side they’re on.

XRP Futures and Spot traders join hands… to sell

Cryptoquant’s Futures Taker CVD has been sell-dominant since late August. That hasn’t changed yet so, two and a half months straight.

The only time this year Futures traders leaned buy-heavy was in the beginning of 2026. In that time, XRP has gone from $1.55 in late September to $1.05 now.

Spot traders used to turn a blind eye, but not anymore. For the most part, their CVD was neutral this year. There were some buy-heavy stretches in January, February and May.

That changed in October. Now, the Spot Take CVD is also sell-dominant. This is the first time that’s happened all year!

That matters more than you think. Futures selling might just be traders betting short. When Spot starts selling too, that would mean that people holding actual XRP may be getting out.

XRP volume is running hot!

Usually, when people trade a coin this much, it’s because the price is rising. With XRP though, that’s not been the case.

Futures volume bubble map went red in late August. Through most of September and early October, it was marked as “overheating.” While that’s slowed down a bit since, it’s still been a fair spike.

Spot followed.

It moved into “heating” in early September, was “overheating” in the middle of the month, and has stayed hot ever since.

Now, put that next to when Spot volume was “cooling” at $1.40.

Both markets are busy right now, but since it’s all during a dip, it may be indicative of selling.

Whales are swinging big, and that could decide what happens next!

Finally, CryptoQuant’s Average Order Size has shown “big whale orders” on Futures and Spot since early October.

That’s happened before as well. Whale-sized orders were all the rage through June, July, and most of August. All this, while XRP went between $1 and $1.25.

Towards the end of August, the price went back to $1.50 on the charts.

As with many others, this metric also only shows how big orders are, and not which way they’re going. Whales could be buying the dip, or walking away.

Either way, they’re the ones moving the most money right now. Whatever they decide at $1 is probably where XRP goes next.

Final Summary

• XRP Spot traders went sell-dominant for the first time this year!
• Big whale orders have been active on both markets, despite XRP’s fall towards $1.