XRP experienced its largest monthly exchange outflow since November, with over 7 billion tokens withdrawn in February. Data shows Binance led the withdrawals, followed by Bybit and OKX. The token’s price trades near $1.46, testing a key resistance level at the 200-period moving average of $1.49 as it recovers from a broader market correction.
Over 7 billion XRP left exchanges in February, marking the largest monthly outflow since November. This suggests holders are moving tokens into private wallets rather than keeping them on trading platforms.
The price of XRP was approximately $1.46 on March 4. The token is attempting to regain stability after a general market downturn in early February.
Binance recorded the highest withdrawals, with just under 3.38 billion tokens removed. Analyst Arab Chain believes this is due to the exchange’s large trading volume and user base.
Bybit saw nearly 770 million XRP withdrawn during February. OKX users also removed close to 395 million tokens in the same period.
Technical charts show XRP trading above its 50-period Exponential Moving Average at approximately $1.39. However, it remains below the 200-period EMA, which is around $1.49.
The RSI is at approximately 67, suggesting increased buying pressure. The MACD indicator also shows a modest bullish crossover, confirming positive short-term momentum.
