XRP Outflows Spike Above 320M, Echoing August Rally Setup

Binance's XRP reserves fell by about 57 million tokens in three days, erasing more than half of a two-week build-up. Data from CryptoQuant shows that daily XRP outflows from exchange transactions of 1 million tokens or more have spiked above 320 million. What makes this information particularly noteworthy, as mentioned by analyst Xaif Crypto, is that the last jump of that size, which came in August, saw the price of XRP climb more than 42%. Binance Leads the Withdrawals Binance led the move, Xaif Crypto noted, with Coinbase, Upbit, Bybit and Bitget, which recently suffered a $387 million breach, also showing heavy outflows. “Last time we saw a spike like this (Aug), XRP ripped from $1.05 to $1.50,” the trader pointed out. Analyst Amr Taha tracked the Binance side. The exchange’s XRP reserve rose from about 2.60 billion to 2.70 billion tokens between September 13 and 27, then fell to 2.647 billion by September 30. That is roughly 57 million XRP, or 2.1%, gone in three days, more than half of the earlier build-up. A lasting decline could leave fewer tokens available for spot trading and ease selling pressure, stated Taha. CryptoOnChain, another CryptoQuant author, focused on leverage...