XRP Outflows Surge Above 320M, Echoing August Rally Setup

XRP outflows have spiked to over 320 million tokens in exchange transactions of 1 million or more, echoing the August rally setup. Binance led the move, with Coinbase, Upbit, Bybit, and Bitget also showing heavy outflows.

According to CryptoQuant data, this is similar to the last jump seen in August, which saw XRP's price climb over 42%. The token has been gaining traction recently, having rallied 16% in the last 14 days and trading near $1.50 at the time of writing.

Analyst Amr Taha noted that Binance's XRP reserve fell by roughly 57 million tokens between September 27 and 30, which could indicate a lasting decline in available tokens for spot trading and ease selling pressure.