XRP Inflows to Binance Surge to Highest Since March
Over the past 30 days, approximately 1.6 billion XRP tokens have been transferred to Binance, marking the highest inflow since March. This surge in transfers has raised concerns about potential selling pressure in the short term, as large movements to exchanges often precede sales. However, CryptoQuant notes that inflows alone do not confirm actual selling, suggesting a cautiously bearish outlook.
The data indicates that if Binance continues to accumulate XRP while the price weakens, selling pressure could intensify. Conversely, if reserves stabilize and the price holds steady, the market may absorb the additional supply without significant impact. Meanwhile, XRP futures trading remained robust in September, with Binance leading the activity at $32.36 billion in volume, followed by Bybit and OKX.
Analyst Ali Martinez has identified a potential bullish signal in XRP’s chart, noting a breakout from a descending resistance line on the four-hour chart. If XRP maintains support at $1.50, Martinez predicts a move toward $1.62, highlighting optimism among some traders despite the recent exchange inflows.