XRP Holders Flock to Long-Term Holding, Reducing Exchange Supply

XRP holders are taking their assets off centralized exchanges like Binance in significant numbers, indicating improved market sentiment and a shift towards long-term holding. This trend is evident from the exchange's lowest XRP inflows in 60 days, while withdrawals surged, reducing the available supply of XRP on the platform.

The reduced supply could drive up prices as selling pressure eases and demand tightens. This movement suggests a bullish outlook for XRP, especially considering its weekly gains despite a 65% drop earlier.

Notably, Binance has seen a substantial decline in XRP deposits and withdrawals, from around 650,000 to 350,000, indicating reduced selling pressure and increased holding. The NVT Ratio surged, indicating that the market value of XRP is growing faster than its volume.