Update on XRP Exchange Movements: Important Information You Shouldn't Miss
Exchange Outflows: On November 29, XRP experienced significant exchange outflows, with major platforms like Upbit, Bithumb, and Binance showing net declines in held balances, contributing to a total decrease of approximately 6.54 billion XRP (29.3%) since February.
Institutional Accumulation: Evernorth emerged as a key institutional player, accumulating XRP without any outflows on the snapshot day, indicating a strategy to build a large publicly disclosed XRP treasury.
Uneven Outflow Patterns: The report highlights that while overall exchange balances are down, the outflows are uneven across different platforms, suggesting a mix of institutional accumulation and local market dynamics influencing liquidity.
Market Implications: Commentary from market participants suggests that the observed liquidity migration may signal a larger structural shift in supply, potentially impacting future price movements and reflecting long-term custody strategies.
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