The amount of XRP held on centralized exchanges has dropped sharply in recent days, creating a noticeable shift in the asset’s on-chain profile ahead of a major milestone for the cryptocurrency. Data shows that more than 149 million XRP, worth roughly $336 million, exited exchanges within a 24-hour window. The movement comes at a time when market conditions are somewhat choppy , yet accumulation trends appear to be strengthening as investors are likely adjusting positions ahead of a potential new source of demand. This potential new source of demand is the possible launch of a Spot XRP ETF in the US this week. Massive XRP Outflows From Crypto Exchanges The latest exchange-reserve data captures a significant decline of millions of XRP on crypto exchanges in the past few days, placing total reserves across tracked platforms at approximately $6.63 billion as of November 13. Such sudden outflows can only be interpreted as a sign that investors are moving tokens into private storage rather than preparing to sell. The size of the withdrawal in recent days, more than two percent of available exchange supply, marks one of the more notable single-day reductions seen in recent months and has raised questions about where the liquidity is going. The reserve contraction is coincidental with rising anticipation around a possible Spot XRP ETF debuting this week. Canary Capital’s Form 8-A filing gives Nasdaq the framework to list the fund as early as November 13 once regulatory procedures are finalized. The prospect of an ETF has already become a focal point for traders, largely because similar developments for Bitcoin and Ethereum led to major inflows and surges in demand following approval. Even without a final green light, the setup alone appears to be influencing behavior on-chain, as whales and long-term holders position early in case a fresh wave of institutional interest begins to form. Can The Price React Positively? A drop in exchange reserves this large reduces the amount of XRP immediately available for trading and creates the conditions needed to increase buying pressure. Investors who move tokens off exchanges tend to have a longer time horizon, which naturally limits short-term sell pressure. If the ETF goes live on schedule and draws meaningful capital, the reduced supply on exchanges may intensify price reactions. Whether this translates into a sustained price uptrend depends on how much demand the ETF launch ultimately generates. Recent examples in the market include the steady inflows into the two Spot Solana ETFs in the US, which have attracted consistent demand since their launch. Even so, there is a growing belief among market watchers that a Spot XRP ETF could draw far deeper liquidity than its Solana counterparts, given the asset’s larger global footprint and institutional investors. At the time of writing, XRP is trading at $2.50, up by 3.8% in the past twenty-four hours.
