1 month ago
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Key Takeaways
- XRP at $1.39, broke above $1.40 on May 4.
- Exchange deposit transactions at 473: 30-day low on Binance.
- April 28-29: $61M outflow at price low, not selling.
- Bybit OI delta: $23.9M positive on May 1.
- Bybit reserves fell 16.2% since mid-March.
- Binance reserves fell 1.8% since mid-March.
- Whale to exchange flow collapsed to 1,000: near zero.
- Confirmation signal: daily close above $1.42.
What Happened at the April 28 Price Low Is Not What It Looks Like
XRP hit its lowest price of the past month on April 28-29, trading down to $1.35. On those same two days, three on-chain readings on Binance hit their highest levels of the entire 30-day window simultaneously: exchange inflows spiked to $40 million, exchange outflows spiked to $44 million with $61 million in USD outflow terms, and depositing transactions peaked at 13,900.
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