XRP Derivatives Buying Hits 2026 High, But On-Chain Data Sends Mixed Signals

Ripple’s XRP has attracted a fresh wave of aggressive buying in derivatives markets, with its taker buy-sell ratio climbing to the highest level recorded in 2026, according to CryptoQuant data cited by AMBCrypto. The surge in demand coincided with a 24-hour price gain of 5.35%, though other on-chain indicators suggest the picture is far from uniformly bullish.

The taker buy-sell ratio measures aggressive buying volume against aggressive selling volume in perpetual swap markets. A rising ratio typically signals that buyers are stepping in more forcefully than sellers, a dynamic that tends to push spot prices upward. AMBCrypto reported that the metric’s 7-day moving average has climbed back above 1, reflecting sustained taker-side demand rather than a single spike.

Coin Days Destroyed spike hints at profit-taking

Despite the bullish derivatives flow, Glassnode data showed the Coin Days Destroyed (CDD) metric jumped by its largest amount since April, according to the report. CDD tracks the volume-weighted age of coins moved on-chain in a given day, with higher readings indicating that long-dormant XRP holdings are being reactivated — often a precursor to selling.

A CDD spike occurring alongside a price bounce above $1.10 suggests that some holders used the rally as an opportunity to lock in gains, AMBCrypto noted. This creates a tension between the bullish signal from derivatives traders and the cautionary signal from long-term holders cashing out.

Wallet flows turn negative as whales keep distributing

Adding another layer of complexity, crypto analyst Amr Taha highlighted that the 7-day net depositing/withdrawing wallet count fell to -6,210 on June 30, according to the report. That negative reading marks a shift from a net-depositing environment to one dominated by withdrawals, a pattern some interpret as a sign of accumulation since coins are leaving exchanges rather than arriving for sale.

However, AMBCrypto cautioned that a swing toward withdrawals does not automatically confirm accumulation by large holders. To test the theory, the outlet examined the percentage of XRP supply held by the top 1% of wallets, sourced from Glassnode. That share fell from 87.98% to 87.87% throughout June, indicating that top holders were net distributors during the month even as smaller wallets pulled coins off exchanges.

For broader context, the top 1% supply share had actually climbed from 87.57% in January to nearly 88% at its 2026 peak, meaning the June pullback represents a reversal of an otherwise accumulating trend among the largest holders.

$1 support holds despite unlock-driven supply concerns

The mixed signals arrive as the market continues to digest a previously reported 1 billion XRP token unlock, which raised questions about whether demand could absorb the added supply. According to AMBCrypto, the $1 psychological support level has held firm so far despite the selling pressure implied by rising CDD and distribution among top holders.

The outlet noted that on-chain data leans slightly toward the accumulation narrative overall, but cautioned that broader market sentiment and Bitcoin’s price trajectory will likely play a significant role in determining XRP’s next move.

Read more: XRP Trading Volume Overtakes Bitcoin on Upbit as $1.15 Level Comes Into Focus