finbold.com
Binance has seen a notable drop in its $XRP holdings over a three-day window, with the asset’s value on the platform falling by over $200 million.
In this line, the value of $XRP held on the exchange stood at approximately $4.08 billion on April 17 before sliding to roughly $3.862 billion by April 19, a difference of about $224 million, according to on-chain data retrieved by Finbold from CryptoQuant on April 20.
The decline coincided with a drop in $XRP’s spot price from about $1.476 to $1.395 over the same period.
The synchronized move suggests the fall in reserve value was largely driven by a broader cryptocurrency market sell-off rather than significant token withdrawals.
Still, the scale of the decline is of interest as such a sharp drop in a short time can signal either outflows to external wallets or increased selling activity on Binance.
Notably, lower reserves on a major exchange can tighten near-term supply, potentially adding downward pressure if selling persists.
However, if some of the movement reflects a shift to self-custody, it could support a more bullish long-term outlook. For now, price action remains soft, reflecting cautious sentiment.
Meanwhile, the price pullback from a brief touch above $1.50 on April 17, the first time $XRP reached that psychological level in 2026, highlights persistent resistance and vulnerability to profit-taking.
$XRP price analysis
By press time, $XRP was trading at $1.42, down about 0.6% in the past 24 hours, while on the weekly timeframe, the asset is up about 6.6%.
As things stand, the cryptocurrency is hovering near the lower end of its recent consolidation zone.
Notably, $XRP has given back a meaningful portion of gains recorded earlier in the month, and technical indicators are flashing mixed signals, with support clustered around the $1.35 and $1.38 area.
At the same time, broader cryptocurrency market flows remain subdued, with Bitcoin (BTC) and Ethereum (ETH) showing limited directional conviction, which has kept altcoin momentum in check.