Saad Ullah
⬤ Exchange-held XRP has been dropping fast. Recent data shows more than 180 million tokens left centralized platforms, squeezing available liquidity. Glassnode's tracking confirms the pattern—balances fell throughout October and November even as XRP's price slid lower.
⬤ The numbers tell the story: XRP on exchanges dropped from around 3.8 billion tokens in mid-September to roughly 2.3 billion by late November. During that same stretch, XRP's price fell from above $3 to around $2. Both metrics moved in the same direction, showing a clear drawdown in exchange supply alongside weakening prices.
⬤ These outflows point to a shift in how holders are managing their tokens. Supply is leaving exchanges faster than it's coming back, which directly impacts short-term liquidity. The decline has been consistent over several weeks, suggesting traders and investors are repositioning as exchange inventories shrink.
⬤ Tighter liquidity matters because it can amplify volatility and make prices more reactive to buying or selling pressure. If this trend holds, the reduced balances could lead to sharper price swings when the market moves. With both supply and price trending down, XRP may see more exaggerated reactions as liquidity conditions continue to evolve.
Saad Ullah
