Over 149 million XRP, valued at about $336 million, has been removed from centralized exchanges in just a day. This is one of the sharpest single-day drops in XRP exchange reserves in recent months. Despite the large transfer, the asset tumbled below $2.30 earlier today, marking a significant 9% overnight decline.
Meanwhile, this development raises new questions among traders and analysts. Some see this as a shift in strategy by larger holders, while others remain cautious, noting a lack of strong buying pressure.
XRP Exchange Balances Drop Sharply
According to data from CryptoQuant, XRP’s exchange supply dropped steeply within a 24-hour period. The chart shows a clear cut in reserves, equal to over 149 million tokens. This suggests fewer coins are available for trading on such platforms.
In many cases, tokens moved off exchanges are meant for storage rather than sale. Such activity is often linked to long-term holding or preparation for offline custody. However, XRP’s price has not moved much following the drop. It remains just near $2.30, showing that the lower supply has not yet been matched by fresh demand.
ETF Launch Followed by Price Decline
On November 13, the first US spot XRP ETF, known as XRPC, began trading. As CryptoPotato reported, it recorded over $58 million in volume and took in $245 million in inflows. Robinhood also confirmed the listing of XRPC, drawing attention across the crypto space.
However, XRP’s price quickly dropped following the launch. Analysts described this as a typical case of the market pricing in the news ahead of time. Crypto Patel noted,
“Markets move before headlines. Retail moves after.”
His chart shows that XRP found support at a key level within its price channel, after a near 10% fall. The pattern is still intact for now.
Large Holder Activity Slows Down
Data from Binance shows that large wallet transfers to exchanges have been declining since October. A small spike on October 25 was short-lived, and the trend returned to low levels. The 30-day average also points to fewer large-scale moves.
During the same period, XRP’s price has dropped from above $2.60 to around $2.30. While fewer whale transfers can lower selling pressure, the lack of new buying interest has kept prices under control.
Market Signals Show Neutral Trend
On a longer timeframe, XRP is showing early signs of recovery. The RSI on the 3-day chart has broken out of a past downward path. In previous cases, such moves came before stronger price shifts. The current RSI is near 46, showing mild upward momentum. Analyst Steph Is Crypto’s chart pointed to similar patterns in past years that led to large gains.
Another analyst, Cryptollica, compared XRP to its 2-year moving average bands. XRP is trading above the 2-year base level but still far below the upper bands. This puts the token in a mid-range price zone with no clear signs of extreme moves, up or down.
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