Exchange holdings are an important reference for judging spot selling pressure: the more XRP stays on platforms, the more sellable supply is available at any moment; conversely, a decline in balances is often seen as coins moving into wallets, which is a bullish signal.
Latest statistics from game designer Chad Steingraber show that 41 trading platforms currently hold a total of 15.7 billion XRP. Against the backdrop of XRP’s real-time price of $1.41, down 0.4% over 24 hours, the price is still digesting the potential pressure brought by this high inventory.
In trading, closely watch the direction of changes in this balance: if exchange balances shrink noticeably in the future, the probability of the price stabilizing and rebounding will increase; if balances continue to expand, new rounds of selling pressure need to be guarded against. At present, the bullish-bearish bias around $1.41 remains unclear, so remain patient and wait for the balance data to provide a signal. #XRP
Latest statistics from game designer Chad Steingraber show that 41 trading platforms currently hold a total of 15.7 billion XRP. Against the backdrop of XRP’s real-time price of $1.41, down 0.4% over 24 hours, the price is still digesting the potential pressure brought by this high inventory.
In trading, closely watch the direction of changes in this balance: if exchange balances shrink noticeably in the future, the probability of the price stabilizing and rebounding will increase; if balances continue to expand, new rounds of selling pressure need to be guarded against. At present, the bullish-bearish bias around $1.41 remains unclear, so remain patient and wait for the balance data to provide a signal. #XRP