Exchange reserves for XRP have declined significantly across major trading platforms in late October. Binance recorded an 8.18% decrease in holdings between October 28-30, dropping from 2.69 billion to 2.47 billion XRP—the lowest level since December 2022. Bybit registered a 6.54% decline, losing 20 million XRP to reach 286 million in reserves, while Bithumb reduced holdings by 10 million XRP to 1.837 billion. The three exchanges combined lost 250 million XRP.
The broader reserve decline reflects a withdrawal trend across spot markets. XRP recorded $5.78 million in spot net outflows at the time of reporting, with negative netflows dominating the recent trading period. This persistent withdrawal reduces the supply of tokens readily available on exchanges for immediate selling.
On-chain metrics showed notable shifts during the reserve decline. The Network Value to Transactions ratio plunged 54.77% in 24 hours, reaching 54.69, indicating that transaction activity was growing faster than market capitalization—suggesting expanded network utilization relative to valuation.
Despite supportive supply-side developments, XRP faced technical headwinds. The token defended a $1.23 support level on the daily chart, rebounding toward $1.24, but the Relative Strength Index remained weak at 36.55, below its Moving Average of 40.19. The Money Flow Index stabilized around 42.31, indicating buying pressure had not regained dominance. Maintaining the $1.2352 support level would be necessary for buyers to challenge higher price levels.
