On-chain data cited by Techub News and attributed to BeInCrypto showed a sharp rise in XRP flows into Binance between Sept. 11 and Sept. 17. Average daily inflows reached 21.7 million XRP during the period, up 663% from the quarterly baseline, with Sept. 11 alone recording 91.2 million XRP in inflows. Despite that spike, Binance’s total XRP reserves increased by only 0.22%, while average daily outflows stood at 11.6 million XRP, suggesting active two-way trading rather than one-sided selling pressure.
Analyst Ali Martinez said large holders accumulated about 1.54 billion XRP over a 96-hour stretch last week, worth roughly $2.2 billion based on the figures cited in the report. The reported capital movement overlapped in timing with the failed vote on the CLARITY Act and a Federal Reserve rate hike. XRP also rebounded from a recent low of $1.27 and briefly approached $1.50. At the same time, open interest rose to $477 million, while network transaction volume and transaction count declined, pointing to higher leverage that could increase volatility.
Techub News, citing BeInCrypto, reported that on-chain data showed a sharp increase in XRP transfers into Binance between Sept. 11 and Sept. 17.
Average daily XRP inflows to Binance reached 21.7 million tokens over that stretch, up 663% from the quarterly baseline. On Sept. 11 alone, inflows hit 91.2 million XRP.
During the same period, Binance’s total XRP reserves edged up just 0.22%, while average daily outflows came in at 11.6 million XRP. The figures suggest active two-way trading rather than one-sided selling pressure.
Data shared by analyst Ali Martinez also showed that large holders, or whales, accumulated about 1.54 billion XRP over a 96-hour period last week, valued at roughly $2.2 billion based on the report’s figures.
The report said the capital movement overlapped in timing with the failed vote on the CLARITY Act and a Federal Reserve rate hike.
XRP has recently rebounded from a low of $1.27 and at one point neared $1.50. Open interest climbed to $477 million, while network transaction volume and transaction count declined. The report added that rising market leverage could amplify volatility.
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