There’s almost no XRP left on Coinbase.

Cryptocurrency reserves XRP (XRP) on the American exchange Coinbase have almost completely dried up amid a bearish trend

As of September 19, only 32,8 million were stored on the trading platform. XRP worth $98,4 million at the current exchange rate. This figure has fallen by 95% over the past three months, as the company’s clients held 970 million coins worth $2,91 billion in June.

It is noteworthy that the number XRP Coinbase’s balance decreased during the downward trend that began on July 18 after the digital asset reached its all-time high of $3,66. Therefore, it can be assumed that traders were buying cryptocurrency and withdrawing it to their crypto wallets for long-term storage.

It is also worth noting that the price recovery XRP The post-dump rally that began on September 2nd has concluded and transitioned into a bearish trend, contrary to market participants’ predictions of a continued upward trend. This is evidenced by the fact that, due to the coin’s unexpected price drop, long positions worth $1,78 million were liquidated over the past 24 hours.

Thus, in the market XRP A clash of two forces will occur. On one hand, the decline in supply will put upward pressure on the asset’s price, while on the other, bears will try to break through the support barrier at $3 and consolidate below it. Judging by the chart, sellers will prevail.

Probable exchange rate change XRP

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