Even with uncertainty in the wider cryptocurrency market, XRP continues to be popular. This is largely due to a recent price increase that allowed it to overcome a significant resistance level.
Even though interest seems to be slowing down, data from CryptoQuant shows that the number of XRP held on cryptocurrency exchanges is still going down.
XRP reserve drops to 2.75 billion
As an analyst, I’m seeing indicators that XRP could be poised for another price increase. Recent data from the blockchain shows that the amount of XRP being sold is decreasing, and more traders appear to be confident in its potential, suggesting growing bullish sentiment.
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After a quick price jump on May 14th, XRP’s value fell back down to around $1.39, its lowest point of the week, and dashed hopes for a significant price increase.
Even though the price dropped significantly, both individual and larger investors continued to buy the asset and remove it from exchange platforms.
As of May 17th, there are only around 2.75 million XRP tokens held on cryptocurrency exchanges like Binance and Coinbase, continuing a recent trend of decreasing XRP holdings on these platforms.
XRP returns to green zone
After a few days of falling prices, XRP seems to be rising again, likely due to consistent buying interest.
Currently, XRP is priced at $1.42, up slightly by 0.97% over the past day. Data suggests investors are buying and planning to hold onto XRP for the long term, and many in the market are optimistic about a potential price increase in the near future.
Recent performance of XRP ETFs suggests increasing confidence in XRP’s future price. Unlike Bitcoin and Ethereum ETFs, which experienced significant outflows last week, XRP ETFs were the only ones to see net inflows, indicating strong institutional interest.
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2026-05-17 16:30