XRP Reserves Drop on Binance as Price Tests Key Resistance

XRP is showing signs of life after gaining 4 percent over the last day to trade near $1.11. This move comes as Binance exchange reserves of the token hit 2.61 billion, which is the lowest level seen since February. While the market has seen some volatility lately, the shrinking supply on major exchanges is often viewed by traders as a sign that investors are moving their holdings into private wallets.

Despite this positive signal, sellers have maintained control over order flow since the token dropped from highs earlier this year. Technical indicators show a significant resistance zone between $1.12 and $1.15. For the current bullish momentum to continue, XRP needs to break past $1.15 with sustained buying pressure. If it fails to clear this hurdle, the price may stay stuck in a range between $1.07 and $1.12.

Looking at the downside, support remains firm between $1.06 and $1.07. Traders should watch these levels closely, as a daily close below $1.06 could signal further weakness toward the $0.95 range. With the asset still trading well below its historical peaks, market participants are looking for a clear catalyst to determine the next major trend.