XRP (XRP) emerged as the worst performer among the top 10 cryptocurrencies over the past 24 hours, posting the steepest price decline in the group.
The fifth-largest cryptocurrency slipped more than 2% on the day, underperforming a broader market that edged 0.51% higher. At the time of writing, the altcoin traded at $1.32.
The pullback comes as geopolitical and macroeconomic uncertainty continues to weigh on investor sentiment across digital assets.
Follow us on X to get the latest news as it happens
Binance Data Reveals Steady Accumulation Pattern
However, not all signals point to weakness. Analyst Darkfost noted that despite challenging conditions, particularly for altcoins, some assets are showing resilience.
XRP, in particular, has maintained a well-defined trading range for months, oscillating between $1.30 and $1.50. The token remains more than 60% below its last all-time high.
Yet the analyst noted that, rather than capitulating, a segment of holders appears to be using this consolidation to build positions.
“This can notably be observed on Binance, where on-chain activity has shown a clear resurgence since the end of February. This trend is reflected by a significant increase in the number of outflow transactions, suggesting that more users are withdrawing their tokens from the exchange,” he said.
XRP withdrawal transactions on Binance have surged since late February, with several daily outflow transactions exceeding 4,000 and some days approaching 6,000.
Darkfost’s analysis shows that most of this outflow activity is driven by transactions ranging between 1,000 and 100,000 XRP. That typically corresponds to mid-sized investors rather than large whales.
Rising exchange outflows are generally considered a bullish signal. Investors withdrawing tokens from centralized platforms often intend to hold those assets in self-custody for longer periods, reducing available sell-side liquidity.
“The key question now is whether this accumulation will be enough to allow XRP to break out of its current range and potentially reignite a bullish trend in the coming months,” the analyst wrote.
The accumulation trend arrives as XRP is set to enter one of its strongest months. CryptoRank data shows the token averages a +24.8% return in April, with a positive median gain of +2.05%.
Whether this combination of steady accumulation and seasonal strength will be enough to trigger a breakout remains uncertain. However, the ongoing reduction in exchange supply suggests that, despite near-term weakness, underlying demand for XRP may be quietly building.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
The post XRP Sees Sharp Drop Amid Market Volatility But Demand May Be Rising appeared first on BeInCrypto.
Source: https://beincrypto.com/xrp-price-binance-outflows-accumulation-mid-holders/