XRP Holds $1.23 Support as Exchanges Shed About 250 Million Tokens

The late-October reserve drop could reflect long-term accumulation or the Oct. 29 Binance hack, leaving the outlook dependent on which is true.

Overview

Exchange reserves at Binance, Bybit and Bithumb fell by roughly 250 million XRP between Oct. 28 and Oct. 30, with CryptoQuant showing Binance down about 220 million to 2.47 billion XRP.
XRP has stabilized in a $1.23–$1.25 range after buyers defended $1.23, but daily technicals such as RSI and MACD point to weak momentum and sellers retaining the edge.
U.S. spot XRP ETFs posted modest net inflows of about $18.83 million in October, marking a seventh consecutive positive month and contributing to roughly $1.7–$1.8 billion in cumulative ETF subscriptions.
On-chain and whale activity is mixed: October saw large Binance deposits at seven-month highs while the count of addresses holding 10–100 million XRP fell, so transfers could mean selling, redistribution, custody moves, or accumulation.
Chart analysts have outlined multi-bagger targets that depend on reclaiming key moving averages, and a clear, sustained price recovery will require stronger buying and traceable evidence that reserve declines reflect lasting off-exchange demand rather than operational transfers or theft.