Ripple Investors No Longer HODLing in Numbers
On December 4, $XRP exchange outflow was 980.65 million. As of this writing, it has decreased to 44.17 million, indicating a difference of 936.48 million. This metric tracks the number of tokens taken out of exchanges.
When it increases, it means that most holders are not willing to sell. Hence, the cryptocurrency’s price can increase. On the other hand, a decrease indicates that the bullish conviction is no longer as high as it was and could lead to a price decrease.
Considering XRP’s current price is around $2.33, the exchange outflow between yesterday and the time of writing is worth $2 billion. Given the stated conditions, if the outflow continues to fall, XRP’s price might do the same.
