- XRP exchange reserve plummets
- XRP ETFs drive strong market interest
As XRP returns to the bullish side of the market, its exchange movement is also reflecting growing confidence among both small and large XRP holders.
As momentum appears to be returning to the XRP ecosystem, data from crypto analytics platform CryptoQuant shows that XRP’s exchange reserve has recorded a notable decline over the past day, raising optimism among holders.
XRP exchange reserve plummets
Notably, the total XRP reserve on the global cryptocurrency exchange Binance has shown a modest decline of about 0.5% over the last 24 hours.
Following the drop in this key metric, all crypto exchanges providing support for the leading altcoin now hold lower amounts compared to the figures recorded the previous day. More particularly, Binance accounts for about 2,669,500,000 XRP as of Thursday, December 25.
Although XRP has seen increased selling pressure over the past days, with the asset returning to previous lows, the sudden decrease in its exchange reserves suggests that holders are increasingly transferring XRP into private wallets.
Thus, this stands as a key signal of increased buying activity, which could propel the price of XRP toward a higher surge.
While the metric stands as a strong indication of long-term confidence and reduced selling pressure in XRP, its bullish exchange movement suggests that the recent slowdown in XRP’s price action might be setting up for a rapid surge, positioning the asset for a significant rebound ahead.
XRP ETFs drive strong market interest
Although XRP’s trading price has remained unstable, its ETF ecosystem has retained bullish momentum following a long streak of unbroken inflows.
As all funds providing support for XRP-based ETF products continue to see massive inflows of capital every day, it appears that institutional demand for the asset has remained strong despite unstable market conditions.
Although the strong momentum driven by XRP ETFs has yet to stabilize XRP’s trading price, investors remain optimistic that sustained demand will drive XRP’s rebound in the long run.
During their latest trading session, XRP ETFs pulled in over $11 million in inflows in just one day.
Source: https://u.today/xrp-key-metric-turns-red-on-christmas-but-its-bullish
