Recently, changes in the supply structure of Ripple (XRP) have emerged as a key issue in the cryptocurrency market. According to on-chain data, the spread between whale investors and retail investors on the global exchange Binance dropped to 88.3%, recording its lowest level in about two years.

The market interprets this not merely as a numerical change, but as a possibility of a fundamental shift in the XRP circulation structure within exchanges. In particular, as investors move coins en masse to external wallets, the trend of 'decreasing exchange supply'—where the volume of coins readily available for immediate sale on the market decreases—is becoming more distinct. Analysts suggest that if retail investors' propensity to hold strengthens and the inflow of coins to exchanges continues to decline, it will significantly impact Ripple's future supply-demand balance.

Macroeconomic factors are also playing a positive role. As the recent conflict between the United States and Iran enters a ceasefire phase, the tension in the global financial market is easing compared to before. It is observed that if the international commodity market regains stability and risk aversion decreases, it could have a positive impact on the overall cryptocurrency market.

However, variables remain for expecting a short-term price increase. Currently, the XRP price is still moving within a strong resistance zone, and it is pointed out that a price increase is not unconditionally guaranteed solely by a decrease in supply. For a meaningful trend reversal, an actual expansion in buying pressure must be confirmed.

Regarding this, some analysts evaluate the current situation as a "quiet accumulation zone." While there is no noticeable sharp surge, changes in the composition of market participants and the decrease in exchange holdings are occurring simultaneously, indicating preparation for a potential uptrend.

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