XRP Outflows Surge Above 320M, Binance Leads the Charge

XRP outflows from exchanges have spiked above 320 million tokens, reminiscent of the August rally setup that saw the price climb over 42%.

The spike is led by Binance, which has seen its XRP reserves fall by 57 million tokens in three days, erasing more than half of a two-week build-up.

The last time XRP saw a similar outflow, the price surged from $1.05 to $1.50, according to analyst Xaif Crypto.

Meanwhile, Binance's XRP reserve has fallen by 2.1%, or 57 million tokens, in three days, with the exchange's open interest also decreasing by 15.3%.

Long liquidations have averaged $3.72 million a day from September 24 to 29, about 2.6 times the six-month daily average, while funding rates have halved from 0.010 to 0.005.