XRP supply tanks on exchanges; Is a major move incoming?
At press time on April 10, some 2.74 billion XRP were held on crypto exchanges, according to data retrieved by Finbold from market intelligence platform CryptoQuant . This figure represents a 1-month low in the readily available XRP supply, which stood at 2.82 billion back on March 10. XRP exchange reserves 1-month chart. Source: CryptoQuant Exchange supply tends to have an inverse correlation with prices. The less tokens held on exchanges, the smaller the selling pressure. XRP was trading at a price of $2 at the time of writing, having reclaimed a crucial level of support in the wake of Donald Trump’s tariff pause, which caused a rally across financial markets XRP price 1-day chart. Source: Finbold The present constriction in XRP supply has set the stage for a large price move — but will it materialize? Why XRP will more likely than not trade in tandem with the wider market First things first — it’s important to keep the bullish catalysts that are...