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16/02/26 11:49 UTC-04

XRP Reserves on Binance Fell to the Lowest Level Since November 2024

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Exchanges XRP Reserves on Binance Fell to the Lowest Level Since November 2024

XRP holdings on the largest exchange by trading volume, Binance, have dropped to their lowest level since the beginning of 2024.

Currently, the crypto exchange holds approximately 2.5 billion XRP, significantly less than the 3.2 billion XRP recorded in November 2024, according to CryptoQuant.


XRP reserves on Binance. Source: CryptoQuant

A reduction in exchange reserves signals lower selling pressure, especially when XRP is moved to self-custody. Accordingly, such situations are often interpreted as a long-term accumulation strategy by institutional and retail investors.

The decline in XRP reserves accelerated after Binance introduced support for the RLUSD stablecoin on the XRP Ledger (XRPL) platform late last week. The expected increase in blockchain activity resulted in an outflow of XRP from the trading platform.

The current XRP price stands at $1.49, down 1.6% over the past 24 hours. Momentum indicators suggest potential for further decline. The 14-day Relative Strength Index (RSI) stands at 41.82, which is above the oversold zone, indicating that bearish momentum has not yet been exhausted.

The crypto market is correcting downward following Bitcoin’s drop into the $67,000 range. An artificial intelligence tool forecasts that by March 1, the price could rise into the $70,000 range.

See also: "Futures and options traders bet on Bitcoin rising to $80,000"

#XRP (XRP) #Binance #Reserves

Editor: Yulia Krasnaya
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