A substantial outflow of XRP from centralized exchanges, totaling more than 149 million coins worth approximately $336 million within a single day, has sparked concern among market observers. This significant withdrawal coincided with the launch of a U.S.-based XRP spot ETF, leading to a nearly 9% drop in XRP prices. The event highlights a dynamic marketplace where price fluctuations occur before headlines, and retail investors’ actions follow suit.
Despite this significant movement, Ripple Labs has not released any official statements regarding the withdrawal. Crypto analysts highlight the importance of understanding market volatility and distinguishing between short-term reactions (retail trading) and long-term market dynamics (institutional investment).
Market participants have observed the impact with cautious optimism. While ETF trading volume demonstrated significant activity, XRP price declined. Notably, large wallet withdrawals appear to be declining since October, suggesting a shift towards cold storage rather than immediate trading activity. The absence of immediate demand raises questions about future market trends.