XRP Exchange Flows Show Shifting Patterns
XRP exchange-flow activity is exhibiting a new pattern following weeks of consistent deposit pressure primarily on Bybit, according to a recent analysis by CryptoQuant.
Bybit’s Shift
Data from the XRP Multi-Exchange Daily Depositing/Withdrawing Transactions Delta indicates that Bybit’s transaction delta returned to near-neutral around May 16, ending a period of strong positive readings that had persisted from mid-April to mid-May.
Consistent deposit-side activity is often interpreted as a potential sign of selling pressure, as assets transferred to exchanges are generally more accessible for trading or liquidation. This suggests that the pressure has now diminished, based on transaction count data.
Binance and Coinbase See Withdrawals
While Bybit’s earlier deposit imbalance appears to have subsided, Binance and Coinbase are now displaying the opposite trend, with withdrawal transactions surpassing deposits on both exchanges. This represents a significant change from the previous exchange-flow structure, which was dominated by Bybit deposits.
The market dynamics for XRP have therefore shifted, as the broader exchange-deposit activity seen over the past month is no longer prevalent. Instead, exchange behavior now indicates a rotation in flows, with Bybit cooling off while Binance and Coinbase experience increased withdrawal-side activity.
CryptoQuant noted that the metric tracks transaction delta rather than the total amount of XRP being transferred, meaning it does not reveal the exact volume of tokens entering or leaving exchanges. Nevertheless, the directional change is significant, highlighting a clear shift in transaction behavior across several major trading platforms.
Technical Indicators Suggest Volatility
Alongside the changing exchange activity, technical indicators are beginning to suggest a possible increase in XRP volatility.
Crypto analyst Ali Martinez recently observed that XRP’s Bollinger Bands on the 3-day chart have tightened to their narrowest level in over a year, potentially signaling a major price movement ahead. The crypto asset has been trading between $1.29 and $1.50 for months. Martinez stated that a close above $1.50 could push XRP toward $1.80, while a drop below $1.29 may trigger deeper downside pressure.
Institutional Inflows
On the institutional side, XRP appears to have defied market panic. As reported by CryptoPotato, even as investment products dedicated to Bitcoin and Ethereum faced significant sell pressure, XRP managed to attract inflows of over $67 million last week.
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