XRP Exchange Withdrawals Soar Amid Fading Selling Pressure

XRP has seen a significant increase in exchange withdrawals, reaching multi-year highs since February 2021. This comes as selling pressure fades, and investors appear to be unwilling to sell their XRP holdings in large numbers.

According to CryptoQuant data, XRP withdrawal transactions have been on the rise, while inflows to exchanges have plummeted to their lowest level ever. The analyst Darkfost noted that the average monthly XRP inflow figure has dropped to 3.6 million XRP, representing a significant decrease from previous months.

The falling exchange inflows and heightened withdrawals suggest that sellers are exhausted, potentially leading to a prolonged consolidation phase for XRP. This could provide long-term investors with an opportunity to buy into the market at lower prices.