Despite the ongoing correction in the price of XRP, its exchange reserve has shown a notable decline in the past day, raising optimism among holders. According to data provided by the on-chain analytics platform, the XRP reserve across all supported exchanges has decreased by about 2% over the last 24 hours.
### $336 Million in XRP Bought in One Day
A chart published by the data source reveals that the XRP reserve across all exchanges has reduced by approximately 149,158,000 XRP, worth about $336.4 million, in just 24 hours. As of November 11, the total XRP held on all supported exchanges is valued at around $6.82 billion.
While sudden decreases in exchange reserves—especially for XRP—often indicate that holders are transferring XRP into private wallets, this trend is also a key signal for increased buying activity. Such movements could potentially propel the price higher in the near future. Furthermore, this metric often stands as a strong indication of long-term confidence among investors and suggests reduced selling pressure.
Hence, the ongoing decline in XRP’s price does not appear to be driven by market sell-offs; rather, the asset might simply be responding to the broader trajectory of the crypto market.
### XRP Bulls Anticipate First XRP ETF Launch on Thursday
Although the overall crypto market is currently experiencing severe price corrections, with major cryptocurrencies recording significant daily declines, the drop in XRP exchange reserves comes as a surprise. This trend contrasts with XRP’s current price movement, suggesting that whales have been accumulating tokens at discounted prices, buying the dip in preparation for a major price move ahead.
Moreover, the resilience shown by XRP holders amid rising market volatility seems to be fueled by growing anticipation around the first-ever spot XRP ETF, expected to launch tomorrow, November 13.
With the XRP ETF trading set to go live soon, many investors remain optimistic about the future price potential of the asset.
https://bitcoinethereumnews.com/tech/xrp-reserve-shrinks-by-140158000-whos-buying/