XRP exchange reserves rocket to 1-month high
Summary ⚈ XRP exchange reserves surged 4.11% to a 1-month high of 2.84 billion. ⚈ Ripple’s SEC settlement news boosted XRP’s price from $2.14 to $2.34. ⚈Whales moving XRP to exchanges hints at potential selling pressure ahead. XRP exchange reserves reached a 1-month high on May 10, when some 2,845,253,166 tokens were being held on exchanges. This represents a noticeable surge of 4.11% since May 6, when the exchange reserves totalled 2,732,839,565 XRP, per data retrieved by Finbold from on-chain analytics platform CryptoQuant . XRP exchange reserves chart. Source: CryptoQuant By press time on May 12, XRP exchange reserves had diminished slightly, down to 2,838,110,274. Elevated XRP exchange reserves could hint at post-rally profit taking In the same timeframe that saw a 4.11% increase in XRP exchange reserves, the price of XRP increased from $2.14 to $2.34, following a key development in the Ripple v. SEC case on May 8, when the Securities a...