XRP has emerged as one of the strongest performers in the cryptocurrency market following a sharp selloff on February 6. After hitting a low that day, the crypto has climbed 38% and is now trading at $1.55. The rebound places it well ahead of both Ether and Bitcoin, both of which have posted gains of 15%.
Data from Binance points to a notable shift in investor behavior during the sell-off. Between February 7 and February 9, XRP balances held on the exchange fell by 192.37 million tokens, bringing total reserves down to 2.553 billion. That represents a drop of about 8%, the lowest level recorded since 2024.
A decline in exchange-held supply often signals that investors are transferring assets into private wallets, a move typically associated with accumulation rather than short-term trading.
The reduction in Binance reserves began almost immediately after the February 6 slide, suggesting buyers stepped in quickly to acquire XRP at lower prices. Since February 9, exchange balances have remained largely unchanged, indicating that those tokens have not been rushed back to trading platforms for profits.
On the charts, XRP’s recovery has developed in a steady pattern. Short-term time frames show a sequence of rising lows, a structure often interpreted as constructive for further gains. Momentum indicators, including the MACD, have shifted back into positive territory after weakening during the correction. In addition, shorter moving averages have crossed above longer ones, reinforcing the view that near-term momentum has improved.
Volume trends also support the move. Trading activity has expanded alongside the price increase, suggesting the advance is backed by active participation rather than thin liquidity. The climb from around $1.4550 to near $1.55 unfolded without the erratic spikes that sometimes accompany speculative surges. Instead, the progression has been gradual, marked by successive higher highs and higher lows.
By contrast, Ether and Bitcoin have recovered at a slower pace since the early February decline. XRP’s sharper ascent suggests stronger buying interest, possibly indicating that capital is shifting into the token during the downturn rather than being spread evenly across major cryptocurrencies.
Still, some analysts urge caution. Rallies that follow steep pullbacks can encounter selling pressure near former breakdown zones. For XRP, maintaining traction above the $1.60 level would strengthen the case for a broader reversal and reduce the risk of another pullback.
For now, XRP’s performance underscores how investor positioning and supply dynamics can influence market leadership during recovery phases. As volatility continues to shape the digital asset space, traders and firms like Bit Digital Inc. (NASDAQ: BTBT) will be watching closely to see whether the token can hold above $1.50 and build on its recent gains in comparison to other tokens.
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