XRP Exchange Outflows Climb, Signaling Easing Sell Pressure
Summary
- XRP outflows from Binance and Coinbase have exceeded inflows, signaling that short-term selling pressure may be easing.
- Total exchange XRP balances have dropped more than 50%% from the previous cycle peak, making the decline in exchange reserves a positive factor.
- Still, fresh inflows from institutional investors remain limited, and the token could move sideways as its upward momentum slows.
Forecast Trend Report by Period
An analysis suggests selling pressure in XRP is gradually easing in exchange flow data.
AMB Crypto reported on May 21 that XRP outflows from Binance and Coinbase have recently exceeded inflows. Increased withdrawals from exchanges are generally interpreted as a sign that investors are moving assets to external wallets, reducing short-term selling pressure.
From mid-April to mid-May, however, XRP inflows were strong on Bybit. At the time, the market viewed that trend as a sign investors were preparing to sell amid an uncertain market environment.
Declining exchange reserves were also cited as a positive factor. Binance's XRP holdings have held at about 2.6 billion XRP, while total XRP balances across exchanges have fallen by more than 50% from the previous cycle peak.
AMB Crypto described that as a signal that selling pressure is easing. It added, however, that new inflows from institutional investors remain limited.
CryptoQuant data show Binance's XRP accumulation indicator recently fell to about -0.0059. XRP has also lost momentum after meeting resistance near $1.45.
AMB Crypto said continued XRP outflows from exchanges have eased immediate selling pressure. Still, it said institutional demand remains cautious, raising the possibility that the token will trade sideways until fresh capital inflows resume.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
