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XRP drops to $1.32 as sellers overpower exchange outflows
Key takeaways
- Tokens moving off exchanges usually point to accumulation, but price action is saying sellers still have control whenever XRP tries to recover.
- • More than 25 million XRP left exchanges after a large inflow earlier in the week, suggesting some investors used the drop to move tokens into longer-term storage.
- • Spot XRP ETFs recorded fresh inflows, bringing cumulative flows to about $1.42 billion, though that demand has not yet been enough to reverse the downtrend.
Tokens moving off exchanges usually point to accumulation, but price action is saying sellers still have control whenever XRP tries to recover.
• More than 25 million XRP left exchanges after a large inflow earlier in the week, suggesting some investors used the drop to move tokens into longer-term storage.
• Spot XRP ETFs recorded fresh inflows, bringing cumulative flows to about $1.42 billion, though that demand has not yet been enough to reverse the downtrend.
Article preview — originally published by CoinDesk. Full story at the source.
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