XRP balances on centralized exchanges have reached a one-year high, rising to approximately 11.8 billion coins, according to data referenced by Kamilah Stevenson, a finance commentator specializing in digital assets.
Rising exchange holdings and dormant coins
Stevenson, in her latest video, highlighted the growing divergence between XRP held on exchanges and coins that remain untouched. Glassnode data shows that nearly 56% of XRP supply has not moved for more than a year, reflecting an increase from 51% in January. This trend points to a significant portion of holders adopting a wait-and-see approach, while another portion of tokens is readily accessible for trading.
She commented that, despite the recent 10% price drop, the split in behavior among holders remains notable. Stevenson explained that personal financial factors, beyond mere market sentiment, play a crucial role in these decisions.
Both the active and inactive groups faced the same price movement, but reacted in completely opposite ways, as Stevenson observed.
Publicly available on-chain indicators suggest that growing exchange deposits could indicate increased potential selling pressure. However, Stevenson cautioned that the presence of coins on exchanges alone does not confirm holders’ intentions to sell.
| Metric | Current Value | Previous Value |
|---|---|---|
| XRP on exchanges | 11.8 billion | N/A (1-year high) |
| Unmoved XRP (over 1 year) | 56% | 51% (January) |
| XRP ETFs holdings | 1.19 billion | N/A |
Institutional moves and short-term selling pressure
Stevenson pointed to a recent end of a 13-week inflow streak for XRP-backed exchange-traded funds, which now hold about 1.19 billion XRP, even as small outflows occurred. She added that these ETF flows, like exchange balances, do not provide a direct forecast for price direction.
Dr. Stevenson, who frequently analyzes blockchain investor behavior, explained that not all selling activity follows the same logic. She identified three main drivers: leveraged positions, investing money that may soon be needed for expenses, and entering the market without a plan.
During a recent period of price volatility, Binance recorded approximately $25.7 million in XRP liquidations. This signals the degree to which leverage can force rapid exits from positions, regardless of investors’ overall convictions.
On the institutional side, Stevenson cited advances involving Ripple—a US-based blockchain technology firm—and its RLUSD stablecoin. She included names such as Standard Chartered, Cross River Bank, and DriveWealth, which have been mentioned in connection with custody and settlement services related to Ripple.
Mini dictionary: RLUSD is a US dollar-backed stablecoin developed by Ripple, designed for use in settlement and transfers on blockchain networks, offering fast and low-cost transactions for institutions and enterprises.
Nevertheless, Stevenson warned that enhancements to institutional infrastructure and banking relationships should not be taken as equivalent to direct XRP demand. She emphasized that stronger financial reserves and lower exposure lessen the risk that forced selling occurs due to cash needs or unexpected margin calls.
Liquidity, risk, and market implications
The underlying message is that higher balances of XRP on exchanges can imply potential market-wide selling pressure, but these metrics do not differentiate between holders prepared for long-term investment and those who might sell under financial stress.
Stevenson concluded by highlighting liquidity management as a decisive factor for investors trying to avoid sales triggered by urgent cash requirements or steep price drops.
Exchange balances may reflect potential selling interest, but only individual cash reserves and exposure determine who can weather market swings, Stevenson noted.
