TLDR:
XRP price held near $1.24 after buyers defended $1.23. Binance, Bybit and Bithumb lost 250 million XRP in combined reserves.
Binance reserves fell 8.18% to 2.47 billion XRP between Oct. 28 and Oct. 30. Upbit moved higher, adding 20 million tokens.
XRP recorded a 36.55 RSI and a 42.31 Money Flow Index in the daily chart review. Both readings left buying strength below neutral.
EGRAG CRYPTO outlined potential cycle targets of $6.80, $16.17 and $31.64. His scenario depends on price confirmation and has no deadline.
XRP price held near $1.24 after buyers defended $1.23, even as major exchanges recorded a sharp decline in reserves. Binance, Bybit and Bithumb held a combined 250 million fewer tokens between Oct. 28 and Oct. 30. Binance recorded its lowest XRP balance since December 2022.
Market figures published Oct. 31 showed weak momentum alongside the reserve decline. Separately, EGRAG CRYPTO outlined potential cycle targets of $6.80, $16.17 and $31.64 on a monthly chart. His outlook relies on reclaiming a key moving average. The XRP price recovery still needs stronger buying activity, with daily indicators showing that sellers retain an advantage.
XRP Price
XRP Price Holds Support as Exchange Balances Fall Further
CryptoQuant analyst Amr Taha put Binance exchange reserves at 2.47 billion XRP on Oct. 30, down from 2.69 billion. The 220 million token decline represented an 8.18% reduction over two days.
Bybit recorded a 6.54% fall, with balances dropping from 306 million to 286 million XRP. Bithumb lost another 10 million tokens, leaving 1.837 billion XRP on the platform.
The pattern varied across exchanges. Upbit added 20 million XRP over the same period, lifting its balance to 6.44 billion. The combined decline therefore describes the three named platforms, rather than every exchange.
The reporting window also overlapped Binance’s Oct. 29 hack and the temporary withdrawal suspension that followed. This complicates a bullish interpretation of the reserve decline. CryptoQuant measures balances at exchange-labeled addresses. Establishing whether specific transfers reflect theft, custody changes or customer withdrawals requires tracing the transactions and their ultimate destinations.
Source: CryptoQuant
Lower exchange reserves can reduce the inventory immediately available for trading. However, wallet balances alone cannot establish whether investors accumulated tokens or moved existing holdings elsewhere. A lasting XRP price recovery would require buying demand to strengthen alongside the reduction in exchange-held supply.
CoinGlass figures showed $5.78 million in spot net outflows. Spot trading flows and exchange wallet balances measure different activity. The negative reading should therefore be assessed separately from the reserve decline.
CryptoQuant’s Network Value to Transactions ratio also fell 54.77% over 24 hours to 54.69, the report showed. NVT compares market capitalization with transaction volume. A falling ratio can reflect higher transaction activity, lower valuation, or both, so it does not independently establish undervaluation.
The daily XRP price chart showed an RSI of 36.55, below its moving average of 40.19. The Money Flow Index stood at 42.31. Both indicators remained below 50, suggesting buyers had yet to regain control.
EGRAG CRYPTO Outlines Three Targets on the Monthly Chart
EGRAG CRYPTO focused on XRP’s monthly chart in an Oct. 30 post. He highlighted three descending trendlines and the Atlas Line, a rising support line traced back to 2014.
#XRP – ZOOM OUT! YOU HAVE NO IDEA WHAT’S COMING! :
Guys, look at the MONTHLY chart!
THREE CYCLES. THREE DESCENDING LINES. ONE MACRO ATLAS LINE!
In previous cycles, XRP struggled to reclaim the 21 EMA before exploding higher.
NOW? WE’VE TESTED THE 21 EMA AND WE’RE… pic.twitter.com/7ZxkpMToh8
— EGRAG CRYPTO (@egragcrypto) October 30, 2026
His analysis linked previous rallies to reclaiming the 21-period exponential moving average. Because the chart uses monthly candles, this is a 21-month indicator. Reclaiming that level would be the next step in the analyst’s proposed cycle setup.
The chart comparison showed consolidation lasting 30 bars in one cycle and 23 in the next. The current structure had reached 17 bars. Those periods corresponded to roughly 912, 699 and 518 days in the analysis.
His XRP price targets based on Fibonacci extensions start at $6.80, followed by $16.17 and $31.64. EGRAG CRYPTO presented them as macro targets without assigning a deadline. Their relevance depends on the breakout conditions in his chart developing.
The analyst said he was keeping cash available while awaiting confirmation before opening another leveraged long. That position leaves the projected upside contingent on a stronger technical setup.
Nearer term, the XRP price must hold the 1.23– 1.2352 support area identified in the daily review. A sustained recovery above $1.25 would improve the immediate structure while buyers work to rebuild momentum.
The post XRP Price Holds $1.23 Support as Exchange Reserves Drop by 250M appeared first on Blockonomi .
