XRP market activity has entered a new phase after weeks of persistent exchange deposit pressure. According to CryptoQuant data, Bybit’s month-long deposit imbalance has largely faded, signaling a sharp reduction in sell-side pressure from that venue. Meanwhile, Binance and Coinbase are now exhibiting stronger withdrawal activity, suggesting a shift toward accumulation or reduced intent to sell.
However, the environment remains mixed. Institutional accumulation of XRP has weakened, and resistance near the $1.47 level is holding firm. On Binance, leveraged traders are rapidly reducing exposure, triggering a spike in liquidations across derivatives markets. This unwinding of leverage adds another layer of complexity, as the cooling of spot selling is countered by aggressive de-risking in futures.
The net effect is a cautiously positive shift for XRP, with the earlier intense selling pressure abating, but headwinds from leverage and institutional hesitancy persist.
