XRP Sees $63M Exit Major Exchanges as Futures Market Dumps $2B

XRP has seen significant outflows from major exchanges such as Binance, Upbit, and Coinbase, despite the ongoing bearish market. Over the past seven days, these exchanges have collectively recorded net XRP outflows of $63.17 million. The total amount of XRP moved off these platforms stands at a substantial $32.32 million on Binance, followed by $23.94 million on Upbit and $8.12 million on Coinbase.

This trend suggests that investors may be taking their XRP holdings offline, potentially reducing the available supply in the short term. The weekly data from CoinGlass shows that all major exchanges except Bitstamp and Gemini recorded net outflows of XRP.

The futures market has also seen a negative seven-day figure, with $2.01 billion in outflows compared to $1.86 billion in inflows. This leaves the market with a net outflow of $149.42 million over the past week.