XRP Traders Hold Bearish View Despite Accumulation

The XRP market has seen a decline of almost 3% over the past week, with prices settling around $1.43. However, despite a bearish sentiment among traders, on-chain data suggests that large players are accumulating the altcoin.

According to recent data from Binance, XRP recorded a net outflow of 7.79 million tokens over the past 24 hours, exceeding the 30-day moving-average outflow. This indicates that more XRP is being withdrawn from exchanges than deposited, a pattern commonly associated with long-term holding rather than immediate selling.

The accumulation is driven by institutional players moving assets into cold storage, signaling confidence in future price appreciation. The taker buy-sell ratio of 0.9723 signals that sell-side pressure continues to outweigh buying activity, but market structure and on-chain data suggest conditions may be building for a potential short squeeze.