XRP Supply on Coinbase Plummets 90% as Binance Reserves Hit 2024 Lows

On-chain data has revealed a massive 90% reduction in the supply of XRP held on the Coinbase exchange, sparking significant market speculation among crypto traders. This development coincides with Binance reserves falling to their lowest levels since the beginning of 2024, signaling a broader trend of assets leaving centralized platforms. The substantial movement of tokens likely indicates a shift toward self-custody by large holders or potential institutional accumulation for the long term. While a sharp decline in exchange supply is often viewed as a bullish "supply shock" signal due to reduced immediate selling pressure, it also raises questions regarding short-term market liquidity. Analysts suggest that these structural shifts could provide a tailwind for XRP prices if demand remains steady. Market participants are now closely monitoring XRP/USD and XRP/USDT pairs to gauge the impact of this tightening liquidity on future price action.