In late May, XRP faced significant selling pressure amid weakening market risk appetite. On-chain data shows that 22.8 million XRP were transferred to exchanges on May 28, marking the largest single-day inflow this year, but the price did not continue to decline rapidly as a result.
Exchange flows reversed
XRP subsequently stabilized near its 15-week low, indicating that the market had absorbed the new supply. Between May 29 and 30, approximately 25.24 million XRP were transferred out of exchanges, exceeding the amount that flowed in during the previous round, suggesting that some funds were beginning to buy back at lower prices.
- 22.8 million XRP coins flowed into exchanges on May 28.
- Outflow of XRP from May 29th to 30th: 25.24 million tokens
- Prices stabilized after briefly approaching a 15-week low.
On-chain valuation pressures have eased somewhat.
In addition to fund flows, on-chain valuation metrics have also improved. The NVT ratio, which measures the relationship between market capitalization and on-chain transaction activity, has fallen back to around 396, cooling from its previous high, indicating that network activity is providing stronger support for current valuations.
In terms of momentum, the Awesome Oscillator is near the neutral zone, at approximately -0.06, indicating that the bearish force has not completely disappeared, but it has not continued to expand significantly either. As exchange supply contracts, selling pressure is marginally weakening.
Prices are currently consolidating within a narrow range.
From a technical perspective, XRP is currently fluctuating mainly between $1.33 and $1.35, reflecting that the market is still in a repricing phase. Continued buying interest around $1.30 has prevented a deeper decline after multiple tests of support.
The area around $1.40 remains a resistance level, limiting the upside potential for a short-term rebound. However, the RSI has rebounded to 54.5, indicating that market momentum is no longer significantly bearish, and some traders are shifting from concentrated selling to gradual buying.
