Binance XRP Reserves Soar to 3-Month High as Price Surpasses $1.50
XRP reserves on Binance have reached their highest level since June, according to data from Arab Chain. The exchange's balance has risen to approximately 2.68 billion XRP tokens.
This surge in reserves may seem ominous, but Arab Chain cautions against treating it as an immediate sell signal. Rather, it reflects an increase in the volume of coins held within the trading ecosystem, providing traders with greater liquidity.
On-chain analyst Theophiluspep offers a more detailed perspective on the activity. He cites CryptoQuant data showing Binance's average daily XRP deposits running 663% above the quarterly baseline during recent sessions, with withdrawals also increasing. This combination points to substantial two-way movement, rather than a one-sided build-up of inventory on the exchange.