XRP Exchange Inflows Surge on Binance Amid Price Decline

Recent data indicates that XRP has experienced a substantial increase in Exchange Inflow on Binance, which may suggest bearish trends for the asset's price.

Key Developments

Exchange Inflow measures the amount of XRP being deposited into Binance. A high value often signals potential selling pressure.
Since December 15th, Exchange Inflow on Binance surged, with a peak of 116 million tokens on December 19th.
This inflow suggests profit-taking from older positions and loss-selling from recent investors as XRP's price fell below $2.0.
The sustained deposits have likely contributed to XRP's struggle to recover in price.

Market Analysis

If the selling pressure continues, XRP's market correction could deepen and prolong.
Whale behavior analysis shows a net distribution phase, with XRP whales reducing their holdings by 40 million tokens recently.

Current Price

XRP is currently trading at approximately $1.87, experiencing a decline of almost 3% over the past week.