XRP Outflows Soar Above 320M, Echoing August Rally Setup

Data from CryptoQuant shows that daily XRP outflows have spiked above 320 million tokens. This is significant, as it echoes the setup seen in August when a similar spike preceded a 42% price increase for XRP.

Binance led the move, with Coinbase and other exchanges also showing heavy outflows. Analyst Xaif Crypto noted that during the last jump of this size, which occurred in August, the price of XRP rose from $1.05 to $1.50.

However, analyst Amr Taha pointed out that Binance's XRP reserve fell by 57 million tokens between September 27 and 30. This decline could lead to fewer tokens being available for spot trading, potentially easing selling pressure.