Over $1 billion XRP exits exchange reserves in a week; Incoming rally?
XRP’s recent sell-off, which saw the token dip below the $2 mark, coincided with a sharp decline in exchange reserves over the past week. On June 22, the total XRP held on Binance stood at 2.238 billion tokens, down approximately 614 million from the 2.852 billion recorded just days earlier on June 16, according to on-chain data from CryptoQuant retrieved by Finbold on June 23. XRP one-week Binance reserve changes. Source: CryptoQuant With XRP trading around $2 as of press time, the amount that exited exchange reserves translates to around $1.228 billion. This significant outflow suggests that investors may be moving their XRP to private wallets or cold storage, a trend often seen as bullish. Such withdrawals are typically interpreted as accumulation by long-term holders or institutions, which could reduce near-term selling pressure, with fewer tokens on exchanges, liquidity tightens, potentially amplifying price moves if demand rises. This shift come...