Over 149 million XRP, worth around $336 million, disappeared from centralized exchanges in just 24 hours. This marks one of the most significant single-day reductions in XRP reserves in recent months. Despite the large outflow, XRP dropped to $2.30, representing a 9% overnight decline. Traders and analysts are weighing whether this reflects strategic repositioning by major holders or a short-term market adjustment. The sudden reduction also highlights increased interest in private custody solutions and growing awareness among institutional investors.
XRP Exchange Balances Drop Sharply
Data shows that XRP’s exchange supply fell sharply, reducing the number of coins available for trading. Large withdrawals often indicate a shift to cold storage or long-term holding wallets rather than immediate sale. Despite the decrease in exchange balances, XRP’s price has remained near $2.30. This suggests that lower supply alone has not yet triggered significant buying activity, keeping volatility limited in the short term. Analysts also note that smaller traders have yet to respond strongly to these outflows.
ETF Launch Followed by Price Decline
The first US spot XRP ETF, XRPC, started trading on November 13 with over $58 million in volume and $245 million in inflows. Robinhood also confirmed the ETF listing, drawing attention from traders across the crypto space. However, XRP’s price fell following the launch, reflecting preemptive market moves rather than immediate selling. The token found support within a key price channel after a nearly 10% drop, showing potential stabilization in the short term.
Large Holder Activity Slows Down
Data from Binance indicates that whale transfers to exchanges have decreased since October. Short-lived spikes in activity were quickly absorbed, and the 30-day average points to fewer large-scale movements. While fewer transfers can reduce selling pressure, limited new buying has kept XRP in a controlled range. Technical indicators, including the 3-day RSI near 46, suggest mild upward momentum.
Overall, XRP’s market appears balanced. Large withdrawals have lowered liquidity, yet buying has not accelerated. Traders continue to monitor technical levels and price channels to identify potential shifts in momentum as market conditions develop.
The information presented in this article is for informational purposes only and should not be interpreted as investment advice. The cryptocurrency market is highly volatile and may involve significant risks. We recommend conducting your own analysis.