XRP Exchange Reserves On Binance Fall To Six-Month Low: Selling Pressure Is Easing

XRP is approaching a crucial long-term demand zone below $1.90, amid a weakening altcoin market. Price action shows fragility as bulls struggle to maintain support levels, suggesting a potential bearish phase. On-chain data reveals a significant drop in XRP exchange reserves on Binance, indicating reduced selling pressure. This divergence between price and on-chain metrics is notable at current levels, potentially foreshadowing stabilization. Similar past conditions have preceded relief rallies, particularly when market sentiment is excessively negative. The upcoming sessions are decisive for XRP, as shrinking exchange supply faces weakening technicals. XRP's exchange balances have sharply decreased to their lowest level since July 2024. Declining exchange reserves often suggest investors are moving tokens off exchanges, diminishing immediate sell-side liquidity. XRP is testing the $1.80-$1.90 demand zone, a crucial level for its future price trajectory. The RSI suggests fading bearish pressure, potentially supporting a stabilization or rebound. Conversely, a breakdown below $1.80 may trigger further downside risk. The weekly chart shows XRP's prolonged corrective move, exhibiting lower highs and lows.