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XRP Rich List hints at the true supply and demand structure, with on-chain signals becoming more critical beyond price.
When evaluating the trend of Ripple (XRP), the market often overemphasizes the price itself while overlooking a more forward-looking indicator—the XRP Rich List and its underlying holding structure. From on-chain distribution, there is a significant gap between XRP's nominal circulating supply and the truly tradable supply, and this gap is profoundly affecting market supply and demand dynamics.
First, XRP has recently experienced a noticeable correction, with the price dropping from a high of approximately $3.66 to around $1.85, a decline of nearly 50%. During the price decline, inflows of XRP into major cryptocurrency exchanges increased significantly, with daily transfer volumes reaching between 35 million and 116 million coins, indicating rising short-term selling pressure. However, at the same time, the total amount of XRP held by exchanges has continued to decrease, now approaching 1.5 billion coins, reflecting that, in the long term, the available chips for trading are diminishing.
XRP-1.99%