Money flows into the exchange raise a warning in the market


Data on the blockchain shows a different picture. The net change in XRP trading position index has risen sharply. This index tracks whether cryptocurrencies are flowing into or out of trading platforms.

Positive readings often indicate risks on the sell side. Cryptocurrency holders may transfer their assets to trading platforms before selling. This makes the recent rise significant.

The XRP index exceeded 4.56 million XRP on April 24, then jumped to 55.29 million XRP by April 26, an increase of nearly 12 times in just two days. This rise also experienced three consecutive days of increasing inflows. This trend could put pressure on XRP's price if buyers cannot absorb the new supply.
XRP-0.57%
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