Binance Flooded with $1.4 Billion in XRP as Traders Adjust to Rate Hike

XRP saw an unusual spike in inflows to Binance during the week ending Sept. 20, with average daily flows reaching 21,718,631 tokens, a 663% increase above the quarterly baseline.

The majority of this activity came from three sessions: Sept. 11, when 91.2 million XRP flowed into Binance; Sept. 16 and 17, which saw 44.5 million and 41.7 million tokens move in respectively.

These inflows coincided with major economic events, including the U.S. Senate's failure to pass the Clarity Act on Sept. 15 and the Federal Reserve's rate hike decision on Sept. 16.

Despite this increased activity, Binance's XRP reserve remained relatively stable, ending the week at 2,630,628,140 tokens, a mere 0.22% above the quarterly baseline.