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CryptoQuant Quicktake
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Binance XRP Reserves Plunge; Accumulation Signal?
On-chain data reveals a significant structural shift in XRP holdings on Binance. The attached chart indicates that exchange reserves have plummeted to 2.5 Billion XRP, marking the lowest level recorded since early 2024.
Key Insights:
Massive Drop from 2024 Highs: In November 2024, Binance reserves peaked at over 3.2 Billion XRP. The outflow of approximately 700 million coins over the last 15 months suggests a drastic reduction in sell-side liquidity.
Accumulation Signal: Declining exchange reserves are typically interpreted as a bullish signal. This trend implies that investors are moving assets off the exchange into cold storage (self-custody), prioritizing long-term holding over immediate trading.
Conclusion:
Despite price volatility, reserves hitting a 2-year low creates a potential “Supply Shock.” With fewer coins available for sale on the world’s largest exchange, any resurgence in demand could trigger significant price appreciation.
Written by CryptoOnchain
Key Insights:
Massive Drop from 2024 Highs: In November 2024, Binance reserves peaked at over 3.2 Billion XRP. The outflow of approximately 700 million coins over the last 15 months suggests a drastic reduction in sell-side liquidity.
Accumulation Signal: Declining exchange reserves are typically interpreted as a bullish signal. This trend implies that investors are moving assets off the exchange into cold storage (self-custody), prioritizing long-term holding over immediate trading.
Conclusion:
Despite price volatility, reserves hitting a 2-year low creates a potential “Supply Shock.” With fewer coins available for sale on the world’s largest exchange, any resurgence in demand could trigger significant price appreciation.
Written by CryptoOnchain
Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé. Consultez les CG.