XRP Bulls Place $72.50 Billion in Longs as Binance Reserves Drop 2.7 Billion: A Deep Dive into Market Sentiment and On-Chain Data
Introduction: A Convergence of Bullish Signals
The XRP market is witnessing a powerful alignment of bullish indicators, painting a compelling picture of institutional and retail confidence. As of November 28, 2025, traders have placed a staggering $72.50 billion in long positions, signaling an overwhelming belief in the asset's upward potential. This aggressive bullish positioning coincides with a significant exodus of XRP from major exchanges, with Binance's reserves alone dropping by 2.7 billion tokens. This decline points toward a period of intense accumulation, a sentiment further echoed by the unwavering inflows into U.S. XRP Spot ETFs since their launch. After a 40% decline since October 2025, XRP's recent 22% rebound from the critical $1.85 support level suggests that a potential trend reversal may be underway, fueled by this potent mix of on-chain and derivatives data.
Binance’s XRP Reserve Plummets by 2.7 Billion: A Signal of Accumulation
A key development underpinning the current market optimism is the substantial withdrawal of XRP from exchange wallets. According to an analyst report shared on X by Darkfost_Coc, Binance's XRP reserves have been in a steady decline since October 2025. The data shows that reserves have plummeted to 2.7 billion, marking one of the lowest levels ever recorded on the platform. The report further specified that approximately 300 million XRP have left Binance since October 6th.
Exchange reserve is a critical on-chain metric that tracks the flow of tokens to and from trading platforms. When reserves decrease, it typically indicates that investors are moving their assets into private wallets for long-term holding—a practice known as accumulation. This reduction in readily available supply on exchanges can create buying pressure, as the asset becomes scarcer for immediate sale. The current trend of declining reserves strongly suggests that large-scale investors, or "whales," are accumulating XRP, viewing the recent price dip as a buying opportunity. This on-chain behavior is already being reflected in the market, with XRP's price jumping 22% over the last five trading sessions.
Wall Street Joins the Fray: Uninterrupted XRP Spot ETF Inflows
The accumulation narrative is not confined to the crypto-native sphere; traditional finance is demonstrating parallel behavior. Data from on-chain analytics firm SoSoValue reveals that U.S. XRP Spot ETFs have recorded persistent inflows since their launch on November 14th, without registering a single day of outflows.
This pattern is significant for several reasons. First, it provides a regulated and accessible channel for institutional and retail investors to gain exposure to XRP without directly holding the asset. The continuous capital injection into these funds indicates sustained demand from a more conservative segment of the investor base. Second, it highlights a strong long-term conviction in XRP's viability as an asset class among Wall Street participants. The absence of outflows suggests that investors who have entered through these ETFs are not looking for quick exits but are instead building positions for the longer term, adding a layer of stability to the demand profile.
XRP Price Action: The $1.85 Support Level Holds Once Again
The technical picture for XRP reinforces the bullish fundamental and on-chain data. At press time, XRP was trading at $2.20, up 1.05%. More importantly, the asset has demonstrated remarkable resilience at a key historical support level.
According to technical analysis from AMBCrypto, XRP has successfully retested its crucial support at $1.85, rebounding nearly 20% since touching that zone. This level is not arbitrary; it has served as a springboard for significant price rallies since December 2024. Historically, each time XRP has touched the $1.85 level, it has consistently rebounded strongly, with past performances recording gains of 40%, 60%, and even 70%.
The recent bounce marks the sixth time XRP has visited and held this support. From a technical perspective, the repeated defense of this level by buyers strengthens its importance and suggests that the market structure remains intact for a potential upside move. Based on this historical precedent, the successful retest provides a technical foundation for the current bullish sentiment.
Derivatives Market Heats Up: $72.50 Billion in Long Positions
The derivatives market offers perhaps the most direct glimpse into trader sentiment, and for XRP, the message is unequivocally bullish. Data from the derivatives platform CoinGlass reveals that traders have built $72.50 billion worth of long positions centered around the $2.129 price level.
To provide context, these massive long positions are contrasted with $40.95 billion worth of short positions at key liquidation levels, with the upper liquidation cluster sitting at $2.264. This disparity indicates that bulls are currently dominating the market with strong confidence that XRP's price will not fall below the $2.129 level in the near future.
This sentiment is further corroborated by Open Interest (OI) data, which jumped by 3.09% to $4.11 billion. An increase in OI alongside a rising price typically signifies that new money is entering the market and that traders are leveraging their positions in anticipation of continued momentum, hinting at growing confidence ahead of a potential volatility spike.
Strategic Conclusion: A Market Poised for Movement
The current state of the XRP market presents a rare convergence of positive signals across multiple data dimensions. The significant drop in Binance's reserves provides strong on-chain evidence of accumulation, reducing sell-side pressure and setting the stage for potential supply shocks. The unwavering inflows into XRP Spot ETFs demonstrate that this demand is bifurcated, coming from both crypto whales and traditional finance investors, thereby broadening the asset's investor base.
Technically, the steadfast defense of the $1.85 support level—a zone with a proven history of triggering powerful reversals—provides a solid foundation for the current price rebound. Finally, the derivatives market has placed an enormous bet on this thesis, with $72.50 billion in long positions representing a colossal vote of confidence from leveraged traders.
For readers and investors monitoring this situation, several key metrics warrant close observation in the coming days and weeks. The continuation or acceleration of exchange outflows would further strengthen the accumulation narrative. Any deviation from the pattern of consistent ETF inflows could signal a shift in institutional sentiment. Furthermore, the major liquidation levels at $2.129 (support) and $2.264 (resistance) will be critical zones to watch, as a breach in either direction could trigger significant volatility due to the high concentration of leveraged positions.
While past performance is not indicative of future results, the alignment of on-chain accumulation, institutional ETF demand, robust technical support, and overwhelmingly bullish derivatives positioning creates a compelling case for sustained positive momentum in the XRP market.
Disclaimer: This article is based on publicly available information as of November 28, 2025. It is intended for informational purposes only and should not be considered financial or investment advice.