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Crypto

XRP Whale Withdrawal Triggers Exchange Reserve Decline

Guavy AI Editorial Team
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XRP
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A significant withdrawal of XRP tokens from exchanges has been reported, with one whale withdrawing 580 million tokens worth approximately $900 million in seven transactions.

This move has reduced the available supply of XRP on exchanges and led to a decrease in exchange reserves. Over the past 24 hours, XRP recorded $6.76 million in spot net outflows, according to CoinGlass data, indicating more tokens were withdrawn than deposited.

XRP's Exchange Reserve USD fell by 2.48% during this period, with exchanges collectively holding less XRP by dollar value. The price of XRP is currently trading near $1.53, just below the key resistance level of $1.57.

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