- Four major exchanges simultaneously accumulated over 1.2 billion XRP tokens.
- Binance increases holdings by 610M tokens from 2.928B to 3.538B XRP reserves.
- Technical analysis points to $4.50 breakout target following a consolidation period.
XRP witnessed one of its largest single-day exchange reserve increases this month, with four major trading platforms simultaneously reporting massive token accumulations. The coordinated inflow totaled over 1.2 billion tokens across Binance, Bithumb, Bybit, and OKX exchanges.
Binance recorded an increase of 610 million XRP tokens to expand its holdings from approximately 2.928 billion to 3.538 billion. Bithumb also posted substantial gains, growing reserves from 1.647 billion to 2.519 billion XRP during the same timeframe.
Exchanges Double XRP Holdings at Key Support Level
Bybit nearly doubled its XRP reserves from 188 million to 380 million tokens, while OKX increased holdings dramatically from 112,000 to 233 million XRP. The simultaneous accumulation occurred precisely at the $2.73 support level, which has previously prevented price declines on multiple occasions.
Despite the massive exchange inflows, the XRP price has not shown an immediate upward reaction, currently trading around $2.95. CryptoQuant analysis suggests the heavy buying is aimed at accumulation rather than immediate market injection, with price impact potentially appearing after a delay. Technical indicators following the accumulation show decreased selling pressure according to RSI and MACD readings.
XRP Price Projected To Hit $4.5
Trader CasiTrades identified XRP breaking out of months-long consolidation patterns, with current price action testing the critical $3.00 resistance level. The analyst noted that momentum is returning to markets, with RSI building a bullish slope and moving averages providing trendline support.
The analyst mentioned that the next resistance zones appear at $3.08 and $3.27, with major Fibonacci levels expected to convert to support. Key technical levels include 0.382 support at $3.00 and 0.236 resistance at $3.25.
CasiTrades projects that Fibonacci extensions from the larger consolidation period point toward $4.50 as the primary breakout target. The previous high of $3.66 would likely serve as a retest area once that upward move materializes.
If current support levels hold and buying volumes continue, XRP could advance toward higher resistance zones. However, failure to maintain support could transform the increased exchange reserves into selling pressure opportunities.
Related: XRP Ledger Payments Drop to 114 Million as Binance Reserves Surge by 670 Million
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