Despite an 18% Drop, XRP’s Exchange Supply Hits Lows—Bullish Setup Ahead?
XRP has faced significant pressure recently, declining 18.3% over the past month from a peak of over $3.40 to $2.06, amid broader market softness. On-chain activity has decreased sharply, with active addresses down 80% since December, and futures market open interest has dropped about 70%. Despite these declines, XRP's price has only fallen 35% from its peak, showing relative stability compared to other assets like Ethereum. Exchange reserves have also decreased, suggesting fewer tokens are available for sale, which may support prices. Institutional developments, such as the launch of the HashKey XRP Tracker Fund in Asia, backed by Ripple, aim to attract more institutional capital and could enhance market sentiment. Long-term confidence in XRP may grow despite current pressures.
