XRP is sitting around $1.34 right now, and there's something interesting happening beneath the surface. Massive amounts of tokens have been flowing out of exchanges lately — we're talking billions leaving the market — which typically signals that serious holders are moving their coins off-platform. That kind of supply tightening usually puts upward pressure on price, but here's where it gets weird: price isn't really responding. We're seeing volume spike about 29% above normal levels, yet XRP keeps getting rejected right around $1.34 to $1.35. Sellers are clearly still present overhead.

The setup feels like a coiled spring right now. When supply dries up this much but price stays flat, it typically doesn't hold for long — something has to give. If we can push through $1.35, the next logical target sits around $1.42. On the downside, $1.31 to $1.32 is holding as solid support, and as long as that zone stays intact, the structure looks fine. The real question is whether this supply compression actually translates into a sharper move or if sellers continue to cap any rallies. Given how XRP's current price has been range-bound despite these outflows, traders should watch that $1.34-$1.35 area closely — it's the immediate tell for what comes next.