XRP traders withdrew nearly 35 million tokens from cryptocurrency exchanges within a 24-hour period [1, 2].

This mass migration of assets often signals a shift toward long-term holding rather than active trading. When large quantities of tokens leave exchanges, the available supply for sale decreases, which can create upward pressure on the asset's price.

The movement occurred within a 24-hour window ending on Saturday [2]. This activity took place in anticipation of a major XRP Ledger upgrade scheduled for May 27 [2].

Traders moved approximately 35 million XRP [1] from exchange wallets to private storage. Such movements are typically tracked via on-chain data to gauge investor sentiment before significant network changes.

The timing of these withdrawals coincides with the May 27 ledger upgrade [2]. Technical updates to the blockchain often lead to volatility as investors speculate on the potential for improved network efficiency or new features.

Market observers have noted that this reduction in exchange reserves may precede a price increase. While the exact impact remains speculative, the scale of the withdrawal reflects a coordinated move by holders to secure their assets outside of centralized platforms, a common practice during critical network transitions.

“XRP traders withdrew nearly 35 million tokens from cryptocurrency exchanges within a 24-hour period”

The withdrawal of 35 million tokens suggests that a significant number of investors are transitioning from a speculative trading posture to a 'HODL' or long-term holding strategy. By moving assets to private wallets before the May 27 upgrade, traders mitigate the risk of exchange-side outages during the update and potentially position themselves for a price rally caused by a supply shock on exchanges.