 ▲ Ripple (XRP) © |
Despite extreme volatility in the cryptocurrency market recently, investors in XRP (Ripple) are instead withdrawing massive amounts of tokens from exchanges and solidifying a long-term holding stance, fueling optimistic forecasts that this could be a pause before a significant price surge.
According to cryptocurrency media outlet Bitcoinist on March 7 (local time), Ripple Bull Winkle, host of the YouTube channel Crypto Blitz, analyzed that a staggering 7.03 billion XRP were withdrawn from cryptocurrency exchanges in February alone. Notably, more than 3.38 billion XRP were taken out of Binance, the world’s largest cryptocurrency exchange.
This large-scale asset movement strongly suggests that investors, despite market uncertainty, are transferring assets to private wallets or long-term storage rather than selling. Bull Winkle emphasized that the declining exchange supply is a clear sign of reduced selling pressure and active accumulation, indicating that investors are firmly positioning themselves in anticipation of a major upcoming rally.
At the same time, meaningful breakthroughs have been observed in market trading indicators. According to a report by technical analyst Xaif Crypto, XRP futures trading volume surged more than 7% over 24 hours to reach $4.85 billion, while spot trading volume also increased 15% during the same period to approximately $1.31 billion.
Xaif Crypto described the substantial inflow of new capital into both derivatives and spot markets as a typical acceleration phase seen just before an explosive move. Meanwhile, according to CoinMarketCap, as of the time of writing, XRP is trading at $1.36, down about 3% over the past 24 hours, with trading volume declining more than 10% compared to the previous day, indicating short-term weakness.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.*