XRP is trading near $1.40 after a volatile stretch across digital assets, with new on-chain data pointing to a cooldown in market participation. A CryptoQuant analyst reports that the number of XRP deposit and withdrawal transactions across major centralized exchanges has fallen to the lowest level since the dataset began, signaling a quieter phase for user activity.
On-Chain Data Points to Quiet Exchange Activity
The decline appears in a metric tracking XRP transfer transactions across 15 major exchanges, described as the “Multi-Exchanges Daily Depositing and Withdrawing Transactions Delta.” Unlike volume-based indicators that measure how many coins move, this dataset focuses on the count of transactions, offering a view into how many participants are actively interacting with exchanges.
Recent readings show a pronounced drop in both deposit and withdrawal activity, suggesting fewer market participants are moving XRP on and off platforms. Such slowdowns often emerge during transition periods, as traders reduce short-term speculation while awaiting clearer price direction. Binance remains the leading venue for XRP transaction activity, while the last major spike in exchange deposits coincided with XRP’s approach to the $3 mark in January 2025.
How to Read the Deposits–Withdrawals Count
Because the metric measures transaction counts rather than capital size, it helps identify behavior shifts rather than raw flows. Historically:
- Rising readings tend to align with increased exchange deposits, a setup that can precede higher selling pressure.
- Falling readings often coincide with quieter exchange interaction and a tilt toward self-custody, behavior commonly associated with accumulation phases and reduced near-term intent to sell.
The latest downturn in activity follows a drawdown of more than 60% from XRP’s prior highs, a move that appears to have thinned retail participation.
Technical Picture: Key Support and Resistance
XRP remains in a broader downtrend that has persisted since late 2025. After a sharp sell-off earlier this year from above $2.30 into the $1.20–$1.30 area, price has attempted to stabilize around $1.40.
- Support: The $1.30–$1.35 zone is acting as near-term support. Buyers stepped in after a February capitulation wick that briefly touched the $1.20 region.
- Resistance: The declining 50-day moving average near $1.60 is the first notable resistance. A sustained break above that level could open room to retest $1.80–$2.00.
Momentum remains constrained, with XRP trading below its 50-day, 100-day, and 200-day moving averages, all sloping downward—an alignment typical of continued selling pressure.
Market Context
The combination of subdued exchange activity and heavy technical overhead suggests a consolidation phase for XRP. While a lift above the 50-day moving average would improve momentum signals, participation data implies traders are largely on the sidelines as the market seeks clearer direction.