BULLISH 📈 : XRP Withdrawals From Binance Suggest Long-Term Accumulation Trend

  • XRP is being withdrawn from Binance, indicated by a decline in its "supply ratio" on the exchange.
  • Over the past ten days, Binance's XRP supply ratio decreased from 0.027 to 0.025, with about 200 million XRP leaving the platform.
  • This trend suggests a shift towards private custody, which may indicate longer-term holding strategies by investors.
  • The reduction in exchange-held supply often aligns with accumulation phases, as coins are less available for immediate sale.
  • XRP has experienced a 40% price correction since the beginning of the year, potentially attracting investors with longer horizons.
  • Exchange reserve changes must be interpreted carefully, as some movements could be internal exchange operations.

At the time of writing, XRP traded at $1.4161.

XRP exchange supply ratio on Binance

XRP price chart