XRP exchange reserves drop by 250M tokens – Is a price recovery ahead?

XRP exchange reserves have dropped across major trading platforms, with Binance recording its lowest holdings since December 2022 amid sustained withdrawals. Between the 28th and 30th of October, Binance reserves reportedly declined 8.18%, dropping from 2.69 billion to 2.47 billion XRP. Additionally, Bybit, on the other hand, registered a 6.54% decline, losing 20 million XRP as reserves fell to 286 million. Furthermore, Bithumb followed with a 10 million XRP reduction, bringing its holdings to 1.837 billion XRP. The three exchanges combined lost 250 million XRP, potentially reducing the supply readily available for selling.