XRP Price Faces Exchange Supply Test at $1.35
XRP's price has been stabilizing near $1.35 after a three-week pullback, but a large Binance deposit raises questions about whether buyers can absorb potential exchange supply.
The token drew an initial buyer response at $1.35, which is also the level of a sizeable XRP cost-basis cluster identified by analyst Ali Charts using Glassnode data.
Binance received 91.2M XRP on September 11, with most earlier daily bars showing smaller inflows. While exchange inflows are often treated as potential supply warnings, they do not necessarily indicate an immediate sale or market-making activity.
The next inflows and price response will be crucial in determining the market's reaction to the deposit. If price remains resilient while subsequent inflows fade, the market may have absorbed the potential supply.