XRP Withdrawals Hit Highest Level Since June 2024

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Surge in Withdrawals: According to CryptoQuant analyst Amr Taha, XRP withdrawal transactions accounted for 53.8% of Binance's transaction activity on June 23, marking the highest level since June 2024, indicating a growing preference among investors for external wallet storage.
Decline in Deposits: Concurrently, deposit transactions fell to 46.1%, the lowest level since early 2024, suggesting that XRP holders are reducing their exchange-bound activity, potentially reflecting uncertainty in the market and a shift towards self-custody.
Sustained Withdrawal Dominance: Withdrawals have outpaced deposits for seven consecutive days since June 17, indicating that this trend is not a temporary spike but a significant change in how XRP holders manage their assets, which could impact future market liquidity.
Market Environment Impact: Despite XRP trading around $1.11, deposit activity did not increase; instead, withdrawal transactions continued to strengthen, demonstrating that during market fluctuations, investors prefer to move assets to external wallets to mitigate risk.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.791	0.92	1.035	1.164	1.279	1.408	1.523
Fibonacci	0.92	1.014	1.071	1.164	1.257	1.315	1.408

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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