The XRP reserves explode on the exchanges … Should we worry?

While Bitcoin has crossed a new summit at more than $ 111,000, the XRP evolves in a climate of uncertainty. Carried by the accumulation of tokens by large carriers, the crypto of Ripple benefits from a bullish breath. However, this dynamic is accompanied by tensions: the rapid rise in reserves on Binance and other exchanges fuels doubts. In an ultra-reactive market, where each indicator counts, this unstable configuration calls for a fine reading of the dynamics at stake.

The appetite of the large carriers feeds the bullish momentum

A speculative wave is currently sweeping on the XRP, fueled by an explosion of term contracts and a renewed interest in the derivative markets. The behavior of the large carriers of the XRP also attracts the attention of analysts, which reinforces the hypothesis of an upward anticipation in the medium term.

Indeed, On-chain data provided by Santiment reveal a significant movement of XRP accumulation by whales. More specifically, the portfolios holding between 10 and 100 million tokens now control 12.1 % of the total supply, against 11.88 % on May 12 and 11.58 % on April 12.

This progression, although gradual, testifies to a strategy of accumulation targeted by an investor fringe which has substantial resources. An increase in appetite for the risk among whales implies confidence in the future of the XRP, while investors bet on a potential price increase.

This appetite for large carriers is part of a favorable macroeconomic environment, stimulated by the general rebound in the crypto market. The price of the XRP rebounded on a technical support at 2.29 dollars to stabilize around 2.44 dollars. Several technical indicators support this dynamic:

• The RSI is maintained above the midwife of the 50, with a slight upward inclination;
• The XRP evolves above key mobile averages (50, 100 and 200 days), respectively at $ 2.30, $ 2.26 and $ 2.06;
• The market as a whole benefits from a feeling of “Increased risk taking”carried by the performance of Bitcoin which reaches nearly $ 112,000.

These elements strengthen the idea that institutional actors and experienced investors always consider XRP as a strategic asset, at least in the short and medium term.

The increase in reserves on Binance triggers doubts

In parallel with this optimistic accumulation, another indicator draws attention: the significant increase in XRP reserves on Binance. According to cryptocurrency datathe volume of tokens available on the platform has increased from 2.7 billion to 2.9 billion XRP since 1^er may.

This rapid rise is often interpreted as the sign of a return of tokens intended to be sold. When the reserves on exchanges like Binance increase, this may indicate potential sales pressure or increase in volatility, especially if traders use these funds to open long or short positions.

Indeed, this rise in reservations comes while the interest in derivatives linked to the XRP is strengthening. Open interest in term contracts increased to $ 4.94 billion, while trading volumes on future reached $ 4.63 billion.

This activity suggests a revival of commitment, but it also implies an increased exposure to sudden movements, especially if an important part of the tokens comes into active circulation. If the technical increase can continue around 3.00 dollars, the potential pressure linked to a mass sale or a rapid profit taking could reverse the dynamics.

The most intriguing signal remains the appearance of a Golden Cross on the XRP/BTC pair, a rare phenomenon observed for the last time in 2017. At the time, this crossing of mobile averages on the weekly graphic had preceded a spectacular flight of XRP. This technical configuration, proposed in an analysis on the prospects for the resumption of the XRP, triggers a renewed hope among the investors. It opens the door to strong rebound scenarios, while contrasting with the concerns linked to the massive movements observed on the crypto exchange platforms.