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XRP reserves on Binance have fallen to their lowest level since early 2024, with the token’s price remaining below $1.50. The exchange now holds roughly 2.5 billion XRP, down from around 3.2 billion XRP in November 2024, returning to levels last seen in January 2024, according to on-chain data available on CryptoQuant on February 16.
Historically, falling exchange reserves have been associated with reduced immediate selling pressure, particularly when XRP is moved into self-custody. Such conditions are often interpreted as a longer-term accumulation approach by institutions and large holders.
A similar pattern was reported earlier this month for Ethereum (ETH), where on-exchange reserves dropped to a ten-year low. That drawdown unfolded gradually as ETH prices pulled back, linked to longer-term holding behavior rather than abrupt price swings.
For XRP, the reserve decline accelerated after Binance added support for the RLUSD stablecoin on the XRP Ledger (XRPL) in late last week. While the update was expected to increase on-chain activity, the more immediate effect appears to be XRP moving off the exchange.
On the price front, XRP is down nearly 6% over the past 24 hours, trading at $1.47 at the time of writing and underperforming the broader cryptocurrency market.
The move follows a rejection of the $1.53 level, with momentum shifting decisively below $1.50. Technical indicators suggest further downside risk: the 14-day Relative Strength Index (RSI) is 41.82, which is above oversold territory, implying bearish momentum remains meaningful.
XRP also recorded a sharp market-value decline over the past 24 hours, losing more than $11 billion. Its market value fell from $101 billion to $89.31 billion at press time.
While the broader market was weak, XRP’s drop was reportedly amplified by heavy selling activity on Upbit, where roughly $50 million worth of the cryptocurrency was reportedly offloaded.
With XRP trading at $1.47, the $1.50 area may act as near-term resistance. Meanwhile, $1.40 is highlighted as immediate support; a sustained break below that level could expose the token to deeper losses.
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