• Over 18 million XRP tokens were taken off an exchange.
• Price has continued to recover, with over 5% in the last 48 hours.

Following a notable decline, XRP’s price attempted recovery. During this recovery phase, a substantial volume was observed as XRP moved away from an exchange. Are traders maintaining confidence despite the recent decline?

XRP volume drops as wallet makes moves

On 6th March, Whale Alert data showed the transfer of over 18.7 million XRP tokens from Binance to an unknown wallet. The transfer had a corresponding value of over $11.2 million at the time of this writing.

Such transfers from exchanges typically indicate accumulation and a belief in the potential for a higher price from the current level. This transfer occurred as XRP attempted to recover from the decline witnessed in the previous trading session.

Additionally, an analysis of the volume chart highlighted a significant surge on 6th March, with the volume reaching over $4.6 billion. This marked a decrease from the over $5 billion recorded on 5th March.

However, trading activities have slowed at the time of this writing, with the volume dropping to around $2.8 billion.

XRP continues attempts at recovery

An examination of the XRP price trend showed that, despite earnest recovery efforts, it managed only a 3.40% increase, trading at approxima

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Author: Adewale Olarinde

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