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XRP cryptocurrency is currently priced at $1.32, and although the price chart appears delicate, the underlying on-chain data presents a contrasting narrative.
The scarcity metric for XRP on Binance has reached 0.59 – its highest level since 2024 – as coins are being withdrawn from exchanges at a rate that is systematically reducing the available sell-side supply.
The scale of this movement is significant. On March 10 alone, around $738 million worth of XRP was taken out from major exchanges within a single 24-hour period, characterized by analysts as one of the largest single-day net outflows recorded this year.
Source: CryptoQuant
In February, 7.03 billion XRP completely exited centralized exchanges, with Binance representing approximately 3.38 billion of that total. The dynamics of supply are evolving – yet the price has not fully adjusted to this change.
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XRP Crypto Price Prediction: Can $1.40 Hold as Exchange Balances Decline?
XRP is approaching the $1.40 resistance area that analysts have identified as a crucial battleground. Below this level, the $1.27–$1.30 range serves as the next significant support zone.
The RSI on the daily chart is around 42 – not in an oversold condition, but also not providing momentum signals. The 50-day EMA is positioned just above the current price, limiting intraday recovery efforts.
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The divergence in on-chain data is the primary point of contention here. Whale wallets accumulated about 40 million XRP in March, even as US-listed XRP spot ETFs – now holding a total of $1.02 billion in assets – experienced $30.12 million in net outflows during the same timeframe.
According to CoinShares, global XRP fund outflows reached $130 million for the month. Institutional selling and whale purchasing are directly intersecting at the $1.40 mark.
Source: TradingView
On the chart, the $1.27 level is crucial, as maintaining the price above it preserves the accumulation narrative, particularly with whale activity increasing and ETF flows beginning to stabilize, which could pave the way for a breakthrough above $1.40 and a potential upward movement if momentum builds.
However, the situation currently resembles a tug of war, with XRP likely fluctuating between $1.27 and $1.40 while the market seeks clarity, as there is strong accumulation on one side and persistent selling pressure on the other, with neither side fully asserting dominance yet.
If the $1.27 support level is breached decisively with volume, the entire setup could deteriorate rapidly, leading to a more significant pullback, as the price would no longer be respecting the accumulation zone, which always takes precedence over any on-chain indicators.
This cycle is distinct due to the institutional aspect, with entities like Bitwise holding substantial amounts of XRP through ETF products, meaning even minor outflows can significantly impact the order book, while Ripple continues to develop its infrastructure in the background, which is precisely the type of long-term narrative that larger players tend to anticipate.
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The post XRP Crypto Holders Pull Coins Off Exchanges, On-Chain Data Signals Supply Shock appeared first on Cryptonews.
