CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Finbold 2025-05-12 09:10:51

XRP exchange reserves rocket to 1-month high

Summary ⚈ XRP exchange reserves surged 4.11% to a 1-month high of 2.84 billion. ⚈ Ripple’s SEC settlement news boosted XRP’s price from $2.14 to $2.34. ⚈Whales moving XRP to exchanges hints at potential selling pressure ahead. XRP exchange reserves reached a 1-month high on May 10, when some 2,845,253,166 tokens were being held on exchanges. This represents a noticeable surge of 4.11% since May 6, when the exchange reserves totalled 2,732,839,565 XRP, per data retrieved by Finbold from on-chain analytics platform CryptoQuant . XRP exchange reserves chart. Source: CryptoQuant By press time on May 12, XRP exchange reserves had diminished slightly, down to 2,838,110,274. Elevated XRP exchange reserves could hint at post-rally profit taking In the same timeframe that saw a 4.11% increase in XRP exchange reserves, the price of XRP increased from $2.14 to $2.34, following a key development in the Ripple v. SEC case on May 8, when the Securities and Exchange Commission (SEC) filed a settlement agreement letter. On the back of such a major bullish development, which occurred in tandem with a crypto market -wide surge, XRP is expected to continue on its upward trajectory — but increased exchange reserves often signal the emergence of greater selling pressure. In addition, whales have started moving large holdings onto exchanges — possibly signalling that a large XRP dump is coming. The token was changing hands at $2.41 at the time of writing, having marked a 10.42% gain in the last 7 days. XRP price 1-week chart. Source: Finbold Range bound trading remains a distinct possibility for XRP in the near term, particularly as open interest remains at low levels on a year-to-date (YTD) basis. Going forward, decisive bounces of the $2.40 mark could establish a line of support — in contrast, the rally currently doesn’t seem to have enough steam to breach the $2.50 mark. With that being said, the SEC’s XRP exchange-traded fund ( ETF ) decision, which will be delivered in mid-July , could serve as a catalyst for a more far-reaching bull run. Featured image via Shutterstock The post XRP exchange reserves rocket to 1-month high appeared first on Finbold .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta