A major holder of XRP has transferred 580 million tokens, valued at approximately $900 million, out of crypto exchanges through seven separate transactions. This significant movement has contributed to a notable reduction in the supply of XRP available for trading on major platforms.
Exchange supply drops as outflows accelerate
Data from CoinGlass shows that XRP experienced $6.76 million in spot net outflows over the past 24 hours, reflecting a trend in which withdrawals outpaced new deposits across exchanges. These persistent outflows have continued to shrink the volume of XRP exchange reserves.
According to the latest figures, the overall dollar value of XRP held on exchanges, measured by Exchange Reserve USD, declined by 2.48% during the same period. This drop indicates that less XRP is immediately available for potential selling pressure.
While a declining exchange balance can tighten supply and potentially support prices if demand remains steady, some analysts note that falling reserves do not automatically result in higher prices.
| Metric | 24h Change |
|---|---|
| Spot net outflows | $6.76 million |
| Exchange Reserve USD | -2.48% |
XRP tests resistance after pennant breakout
XRP is currently trading near $1.53, approaching a resistance zone at $1.57 where sellers previously halted advances. The recent price action broke above a descending pennant pattern on the daily chart, which analysts often interpret as signaling a potential bullish continuation if resistance is breached.
XRP price sits close to a key resistance at $1.57, with $1.50 providing nearby support. A clear move above $1.57 could set the stage for a rally toward $1.70, while losing $1.50 support might risk a pullback.
Technical indicators present a bullish sentiment. The positive Directional Indicator (+DI) stands at 34.70, significantly ahead of the negative reading of 11.41. The Average Directional Index (ADX) records strong trend strength at 41.83, while the Money Flow Index is at 57.93, still below the overbought threshold.
Recent derivatives data from CoinGlass highlights that there is a strong concentration of liquidations set above the current price, particularly from $1.535 up to nearly $1.56. These areas suggest that further gains could trigger liquidations, adding momentum for buyers if the price climbs.
Below the current level, liquidity is concentrated mainly near $1.50, but the most substantial clusters remain overhead. Clearing the $1.5759 resistance could open the path toward the $1.70 mark, in line with current technical analysis.
At this time, XRP continues to trade just below the resistance level, with investor attention focused on whether buyers can sustain the advance and push the price upward.
Mini dictionary: Directional Indicator (DI) and Average Directional Index (ADX) — DI is used in technical analysis to measure trend direction (positive or negative), while ADX measures the strength of a trend, without regard to its direction. Readings above 25 on the ADX often suggest a strong trend.
