Massive XRP Outflow from Exchanges Signals Potential Shift in Holder Behavior
Massive XRP Outflow from Exchanges Signals Potential Shift in Holder Behavior
A substantial 149 million XRP, valued at approximately $336 million, has been withdrawn from centralized crypto exchanges within 24 hours. This significant on-chain movement suggests a potential shift in XRP's holding patterns, possibly indicating reduced selling pressure and a move towards self-custody ahead of a major milestone for the cryptocurrency.
XRP Experiences Significant Exchange Outflow
Recent data reveals a considerable shift in the on-chain profile of XRP, as approximately 149 million tokens, amounting to roughly $336 million, exited centralized cryptocurrency exchanges in a single 24-hour period. This movement typically implies that investors are moving their assets off exchanges, often for long-term holding or self-custody, rather than for immediate sale. Such a reduction in exchange supply can potentially lessen selling pressure and is often interpreted as a bullish indicator for the asset's future price action. Analysts are closely watching this development as it precedes what is described as a major milestone for the cryptocurrency.