XRP Sees Explosive Trading Volume on Binance as Upgrade Approaches

XRP has seen an explosion in trading volume on Binance over the past week, but this increase is more indicative of rising interest rather than a sign of impending selling.

According to CryptoQuant data, daily inflows into Binance have averaged 21.7 million XRP for the past seven days. However, these deposits come from two large influxes: one on September 11th totaling approximately 91.2 million XRP and another on September 16th totaling 44.5 million XRP.

Binance's reserve of XRP has remained relatively steady, increasing only 0.34% in the same time frame to around 2.63 billion XRP. This suggests that much of the incoming supply is being moved back out or redistributed, offset by daily outflows averaging 11.6 million XRP.

The XRPL network's increasing activity is nearing an important infrastructure update, which may change how complex transactions are settled. The Batch V1.1 upgrade received approval from 85.71% of validators on September 15th and is set to activate within a 14-day window closing on September 29th.