Ripple’s XRP market has witnessed a notable shift recently, as on-chain data reveals that whale investors and institutions have withdrawn a staggering 7 billion XRP from exchanges since February 2025. This massive pullback has reduced the available supply of XRP on exchanges by approximately 16%, igniting speculation about future price movements.
As of April 23, the total XRP held on various exchanges has dipped to around 16 billion tokens. This decline translates to over 3 billion XRP pulled from exchanges in the past 14 months, with approximately 3.33 million XRP worth about $4.69 million withdrawn in just the last 24 hours.
Insights from Ripple-backed research firm Evernorth Holdings shed light on this trend, noting a positive change in whale flows that signals a growing base of long-term holders. According to Evernorth, large holders have been adding an average of 11 million XRP each day during early April, contributing to the rise of wallets holding between 1,000 and 100,000 XRP, which has reached an unprecedented total of 1.1 million accounts.
This tightening supply may set the stage for a bullish price breakout. As of now, XRP is trading at over $1.430, with immediate resistance observed at $1.4450. Analysts suggest that if XRP can sustain its position above this resistance level, we could see a price surge toward $1.50.
The significant XRP withdrawals coincide with the upcoming XRP Las Vegas conference, set to take place from April 30 to May 1. This event is expected to gather industry heavyweights, including Ripple CEO Brad Garlinghouse and other prominent figures, to discuss developments and innovations within the XRP ecosystem. Furthermore, this conference will provide builders an opportunity to showcase their projects and potentially secure funding, which could influence the market sentiment positively.
Currently, the largest concentration of XRP on exchanges is found at Upbit in South Korea, which holds approximately 6.47 billion tokens. Other exchanges like Binance, Bithumb, and Uphold are also major players, holding around 2.54 billion, 1.82 billion, and 1.64 billion XRP, respectively. The continued accumulation by large holders indicates a shift in market behavior, where the selling pressure may decrease as more XRP is pulled off exchanges.
Despite recent volatility, XRP’s price has displayed resilience, recovering from a low of $1.410. Analysts see a rising channel forming on the hourly chart, suggesting upward momentum, with support established at $1.430. Any break below $1.420 might see XRP testing support levels around $1.40 and down to $1.3750.
Overall, the combination of a diminishing supply and increased interest from long-term holders paints a promising picture for XRP as it prepares for significant market events and potential price movements in the coming weeks.
