$950 Million XRP Moved Off Exchanges – Price Impact Explained

XRPUSDT current price is at $3.01 after losing the support at $3.07. The decline in price is largely due to a lack of bullish momentum, compounded by broader market negativity. Without a clear catalyst, XRP might face further consolidation as the market waits for stronger buying signals.

Investors are still actively accumulating XRPUSDT, as reflected in the declining exchange net position. The indicator currently sits at a 5-month low, signaling net outflows from exchanges. In the past week alone, over 312 million XRP worth approximately $950 million has been bought by holders, showing optimism toward the asset's potential recovery.

In the coming days, XRPUSDT may test the $2.91 support level, marking a potential 2-week low. A drop below this level is unlikely, suggesting that this range could act as a temporary consolidation zone. As long as the price holds within this range, the market may await clearer direction.

However, if XRPUSDT reclaims the $3.12 support, the cryptocurrency could recover its recent losses. This would depend on continued accumulation by investors, as well as sustained optimism for a price rebound. Only with this renewed interest would XRP be able to push for higher levels.