Approximately 200 million XRP tokens were withdrawn from the Binance exchange over a 10-day period, reducing the platform’s readily available supply. While this has sparked discussions about potential upward price pressure, XRP‘s broader market trend remains negative as it trades below key moving averages. Technical analysis points to $1.20 as a crucial support level, with $1.68 acting as the primary resistance.
A significant volume of XRP tokens has been moved off a major exchange recently. An observer reported that 200 million XRP left Binance in just 10 days, lowering its supply ratio. Such large outflows typically indicate tokens are being moved to long-term storage, decreasing immediate sale pressure on exchanges.
This reduction in liquid supply does not guarantee a price increase. Analysts note that a price surge requires rising demand alongside the shrinking exchange balance. The current market data suggests XRP is still entrenched in a steady downtrend that began after its 2025 high near $2.40.
TradingView data shows the asset trading below its 20, 50, 100, and 200-day exponential moving averages. This alignment confirms the bearish momentum, with the 200-day average sitting near $2.10. For any short-term bullish shift, the price must close above these shorter-term averages.
The $1.20 level has emerged as a critical support area. A recent price drop to this zone displayed strong buying interest, forming a long lower wick on charts. Since that test, the token has consolidated in a narrow range between $1.42 and $1.48.
The convergence of reduced exchange supply and key technical levels makes this a pivotal moment. A break above the $1.68 resistance could shift short-term momentum toward the $1.89 to $2.10 zone. Conversely, a drop below $1.40 would likely reignite selling pressure toward the $1.20 support.
