#BTC Hits New High#

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What is next for XRP with the expansion of exchange balance and supply in profit?
The XRP coin has maintained its upward trend since its drop to a low of $1.90 in June, achieving gains of nearly 50%.

The steady rise in prices can be attributed to the growing risk appetite and a stronger derivatives market, as evidenced by the recovery of open interest in futures to $5.9 billion, up from $3.5 billion on June 23.
The CryptoQuant spot trading volume bubble map shows that the trading volume in the spot cryptocurrency market is declining or slowing down. Weak activity in the spot cryptocurrency market often indicates a decrease in interest in XRP, which could hinder any further price increases.

At the same time, investors are increasing their transactions towards exchanges, with the total exchange balance metric on Glassnode rising by 2.9% to 3.5 billion XRP, as observed on June 23.

The rise in the exchange balance indicates incoming selling pressure, as XRP holders prepare to sell or trade their coins. If supply outweighs demand, it could lead to a decline or consolidation in prices.
In addition, the subsequent increase in the total supply, which generates profit, exposes XRP to financial pressures, as holders are likely to sell to realize profits. The green line in the chart below represents the current profit supply, which is approximately 57.6 billion XRP.

A similar upward trend was observed in May with the supply reaching 62 billion XRP, but selling followed, leading to the price movement being set at $2.65 and expanding the decline to $1.90 in June.