Recent on-chain data reveals that the spread between whale (large-scale) investors and retail investors on Binance has dropped to 88.3%, marking its lowest level in two years. The market views this not merely as a numerical change, but as a potential fundamental shift in the circulation structure of Ripple (XRP) within exchanges.

Decline in Exchange Supply and Shift in Investor Roles A particularly notable trend is the ongoing decrease in exchange supply. Generally, when investors move their coins to external wallets, the volume of coins immediately available for sale on the market decreases. Analysts suggest that if retail investors increasingly hold onto their assets and the inflow of volume to exchanges continues to drop, it could significantly impact the future supply-demand balance of XRP.

Easing Global Tensions and Market Stabilization Furthermore, as the recent conflict between the United States and Iran enters a ceasefire phase, tensions in the global financial markets are also easing compared to before. If the international commodity market stabilizes somewhat and risk-averse sentiment diminishes, it is projected to have a positive impact on the broader cryptocurrency market.

'Silent Accumulation Zone' and the Need for Expanded Buying Pressure However, the market points out that the current XRP price is still moving within a strong resistance zone. A decrease in supply does not guarantee an automatic price increase; rather, a meaningful trend reversal is only possible if actual buying pressure expands.

Some analysts assess the current situation as a "silent accumulation zone." They explain that while there is no noticeable surge, a simultaneous shift is occurring in the composition of market participants and the volume held on exchanges.

In conclusion, the most significant recent change in the XRP market is not the price, but the 'supply structure.' If the remaining volume on exchanges dwindles while the proportion of retail investors grows, the possibility of faster-than-expected price fluctuations cannot be ruled out.

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