Over 35 million XRP tokens flowed out of exchanges on a single day

On April 24, 2026, an incredible 34.94 million XRP in net exchanges left the XRP Ledger—marking the sixth-highest daily amount of the year. The blockchain transaction data, analyzed via market intelligence firm Santiment, has once again sparked optimism in the crypto markets. 

XRP, currently at $1.43 and holding steady despite gaining over 30% in the last three months, could rally another 30% to $1.87-$1.89 before June.

According to Santiment, 34.94 million XRP were moved off centralized exchanges over the past 24 hours. This marks the sixth-highest amount of money moved outside in a day in 2026. The move indicates that users prefer transferring their funds to personal wallets rather than keeping them on sale-ready exchanges.

XRP’s record exchange outflows reduce sell pressure

According to Santiment, past cases show that uptrends have followed such large outflow days. This comes as XRP continues to hold its recovery path, hovering around $1.43 amid a marginal 0.77% gain.

Outflows from exchanges tend to reduce selling pressure because tokens that are not on the exchange are unlikely to reach the market soon.

A rising institutional appetite also backs the bullish narrative for the asset. Spot XRP ETFs in the United States recorded net inflows of $82.88 million over three consecutive weeks, bringing total AUM to $1.1 billion. This continuous flow of capital into the asset denotes rising optimism among traditional finance entities. 

Moreover, on-chain whale metrics have also contributed positively towards the optimistic sentiment. The 90-day moving average of XRP whales has transitioned from the negative zone at the beginning of 2026 to the positive side, suggesting that large holders have been accumulating the asset.

Technical setup supports a 30% bull rally 

The daily XRP chart demonstrates a falling wedge pattern that has been in existence for about five years. It continues to be the dominant force behind the direction of the price movement. The crypto has just touched the bottom trendline of the falling wedge pattern.

In case of a bullish breakout above the rising upper trendline, XRP will likely aim for the $1.87-$1.89 levels marked by the 50-week exponential moving average and 0.5 Fibonacci retracement, respectively – representing a 30% increase, consistent with the overall three-month upward trend where XRP has already managed to add over 30%. 

Should the current dynamics remain intact, the end-of-the-wedge resolution may occur in June. Otherwise, its breakdown below the support trendline could send XRP to $0.98, marking the wedge apex and the 0.786 Fibonacci retracement point.

XRP’s broader market context

XRP has formed a symmetrical triangle since early April, with each peak getting lower and each trough getting higher, leading to a tightening of the price range. These “coiling” patterns have been known to precede explosive breakouts when the compression releases. 

A favorable macro environment supports XRP’s technicals. Bitcoin appears poised for its best monthly performance since last year, holding above $77,000 and posting gains of more than 13% in April. 

In addition, the market has seen an increase in stablecoins, specifically Tether’s USDT, which now sits at almost $150 billion. Market players have characterized the prevailing condition as being more of a coiled spring waiting for its spark rather than a situation of uncertainty. 

Although selling pressure remains strong, shallow pullbacks, institutional buying, and limited exchange float have maintained the upside bias—as long as $1.39 holds.

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