Will Ravens continue to invest in defense or find a receiver for Joe Flacco?

The Baltimore Ravens' first day of free agency was headlined by retaining the best nose tackle in the NFL and adding the top safety on the market. The Ravens kept Brandon Williams by giving him $27.5 million guaranteed and lured Tony Jefferson from Arizona by striking a deal that averages $9 million per season.

So what's the next step for Baltimore: continue to invest heavily in defense or bring in a much-needed receiver for quarterback Joe Flacco?

Ravens officials talked this offseason about the need to build a stronger supporting cast for Flacco, and the free-agent wide-receiver class has already dwindled after one day. Only one of the top eight wide receivers on ESPN's free-agent rankings is still available, and Terrelle Pryor is currently visiting the Washington Redskins.

It's more likely Baltimore will turn its focus to cornerback, which is perhaps the team's biggest need. The Ravens are looking to bring in someone to start alongside Jimmy Smith and move Tavon Young to his natural position in the slot.

Baltimore has shown interest in Cowboys cornerback Morris Claiborne, and there are other options as well. Prince Amukamara, Brandon Flowers and Brandon Carr all remain unsigned.

Claiborne and Amukamara make the most sense for the Ravens. Both are former first-round picks who have shown flashes but also have durability issues, which would make them more affordable for a team looking to stretch its cap dollars.

There aren't as many choices at wide receiver. Alshon Jeffery (Eagles), Pierre Garcon (49ers), DeSean Jackson (Buccaneers), Kenny Britt (Browns), Brandon Marshall (Giants), Kenny Stills (Dolphins) and Robert Woods (Rams) were quickly taken off the market. The Ravens thought they had a chance to reunite with Torrey Smith, but he decided to sign with the Eagles.

Pryor is the clear-cut top wide receiver available, although there are some question marks. He's only had one productive season after switching from quarterback in 2015. The Redskins and Browns have been linked to Pryor.

There is a major drop-off after Pryor in the likes of Terrance Williams, Michael Floyd, Cordarrelle Patterson, Andrew Hawkins and Kamar Aiken. This is a troubling development considering the Ravens' lack of depth at receiver.

Mike Wallace and Breshad Perriman are the only two receivers currently on the Ravens roster who caught more than 10 passes last season after Steve Smith Sr. retired and Aiken hit free agency. Baltimore's other wide receivers -- Chris Moore, Michael Campanaro, Chris Matthews, Keenan Reynolds, Vince Mayle and Kenny Bell -- have combined for 334 yards receiving in their NFL careers.

So far, the only moves on offense has been reaching an agreement with running back Danny Woodhead and re-signing backup quarterback Ryan Mallett (one-year, $2 million deal).

Outside of cornerback and wide receiver, the Ravens still have to address these spots:

Before Baltimore can make these moves, the team will likely need to free up more cap space. The Ravens can do this by reducing tight end Dennis Pitta's pay ($5.5 million in base salary) and cutting safety Lardarius Webb ($5.5 million in cap space).

This was an unusually busy start to free agency for the Ravens. But it's likely just the beginning of an active offseason.