XRP Reserves on Binance Soar to Highest Level in Months

XRP reserves on Binance have reached their highest level in 69 days, according to data from CryptoQuant. The token's Simple Moving Average (SMA) 14, which tracks the total amount of XRP held across its wallets at any given time on Binance, surged to approximately 2,622,788,936 tokens on September 17.

This increase of about 15,617,597 tokens over the past 47 days has coincided with a rise in whale inflow transactions involving over 1 million tokens into Binance. The XRP Whale inflow to Binance 30D (SUM) reached a 6-month high of nearly 1.6 billion XRP.

The price of XRP has fallen by 27.67% year-to-date, trading at $1.33. However, its reserves on Binance have been rising as whales move their holdings to a tradable environment, which could be contributing to the token's recent rally.