XRP Bulls Are Paying Up for Optimism While the Spot Market Sends a Different Signal
Published on 11/10/2026 at 22:31 | Editorial boerse-global.de
XRP holders are getting two very different readings on sentiment right now. On Binance's perpetual futures market, traders are positioned more bullishly than at any point in over a year, according to CryptoQuant data published today. Yet spot XRP ETFs shed $10.4 million in net outflows yesterday, following four straight sessions of flat fund flows. Optimism in derivatives, in other words, is running headlong into capital leaving the exchange-traded products.
The spot price tells its own story. XRP changed hands at $1.09, down 2.9% on the day, as a hotter-than-expected US inflation print rippled through rate-sensitive assets.
Inflation Comes In Hot
US consumer prices rose 0.4% month-over-month in October, Reuters reported, against economist forecasts of 0.3%. Core inflation also overshot, printing at 0.3% versus the 0.2% expected. Both gauges delivered an unwelcome signal, and XRP sold off after the release.
The takeaway for investors is straightforward: a higher-for-longer rate environment is back on the table, and that weighs on crypto and other risk assets that thrive when borrowing costs are low. Today's pressure on XRP traces directly to the macroeconomic backdrop rather than anything specific to the token.
Should investors sell immediately? Or is it worth buying XRP?
Futures Traders Aren't Backing Down
CryptoQuant's Darkfost framed the dynamic plainly: bullish positioning in perpetual contracts is colliding with net outflows from spot XRP ETFs. For market participants, that tension matters. Confidence in the derivatives market points to expectations of a rebound, while the fund outflows argue against broad support arriving through that channel. The recovery thesis would look far sturdier if spot demand were to follow the futures positioning.
Trading activity, at least, is picking up. A second CryptoQuant report from Amr Taha showed average daily spot XRP volume over seven days climbing 53.2% across tracked exchanges, from $513 million to $786 million. That surge in activity makes the spot market the one to watch — it accompanies both the optimistic futures bets and the ETF withdrawals. Higher turnover would only translate into a genuine recovery if it hardens into sustained demand.
Deposits tell a similar story of heightened engagement. The combined count of net-depositing wallets across Coinbase, Bybit and one other tracked crypto exchange hit 4,744 yesterday, with each venue logging its highest reading since August 20.
Ripple Keeps Building
Against the gloomy price action, Ripple has been busy laying institutional groundwork. On October 27, the company announced that BNY will custody XRP and RLUSD for eligible institutional clients on its Digital Asset Custody platform. Both firms said they are exploring further institutional use cases, including tokenized assets on the XRP Ledger.
Ripple also disclosed a partnership with Robinhood to bring RLUSD into its app, with a launch targeted for later in 2026. Separately, C2FO will settle trade finance through the XRP Ledger. These initiatives point toward a broader institutional footprint — provided the planned steps actually come to fruition. For today's price direction, though, the inflation surprise is calling the tune, with the ETF outflows adding to the downbeat picture.
XRP at a turning point? This analysis reveals what investors need to know now.
Risk Appetite Is the Swing Factor
The broader market offers a key caveat for the bullish futures positioning. On Thursday, a selloff in US tech and AI stocks — led by Nvidia — spilled over into cryptocurrencies, triggering substantial liquidations of leveraged positions, according to media reports.
That leaves XRP with recovery hopes in the derivatives market pitted against a still-fragile backdrop. Rising trading activity and growing interest in positioning support a more stable outcome, but only if fresh demand can absorb the selling pressure. The fund outflows and the recent liquidations show exactly where the bullish case could come unstuck: another dip in risk appetite.
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