XRP Holders Flood Binance with Tokens Amid Price Recovery

XRP saw significant activity on Binance in late September, with holders rushing over 21.7 million tokens onto the exchange per day, a 663% increase from the quarterly baseline.

This spike in exchange inflows occurred just as XRP's price was recovering from lows near $1.27 to reach $1.50 on September 21.

According to on-chain data, Binance recorded large deposits of 91.2 million tokens on September 11, 44.5 million on September 16, and 41.7 million on September 17, which coincided with the failed CLARITY Act vote and the Federal Reserve's first rate hike since 2023.

Despite these significant deposits, Binance's XRP reserves rose only 0.22% to around 2.63 billion tokens, while daily outflows averaged 11.6 million tokens over the same period.