XRP: Deposits on Binance jump 663% in one week

During the week ended September 20, the average volume of XRP transferred to the Binance exchange reached 21.7 million tokens, 663% higher than its quarterly benchmark. At the same time, XRP exceeded $1.50, however these inflows are not enough to confirm an increase towards $1.80.

XRP deposits reach 21.7 million per day

The Binance exchange recorded an average of 2,1718,631 XRP per day over the past week. This 663% increase indicates that these deposits represent 7.63 times their baseline level, valued at nearly 2.85 million XRP per day.

However, this average must be interpreted with caution. According to the CryptoQuant datano incoming streams were received on September 12, 15, 18 and 19. Some indicators were also missing for September 20. The weekly average was therefore significantly increased by some significant transfers.

The activity observed on Binance can best be measured using four figures:

• Average deposits reached 21.7 million XRP per day;
• Monthly incoming flows increased by 457%;
• Monthly releases increased by 167%;
• Reserves reached 2.63 billion XRP, up just 0.34% week-on-week.

Such divergence reveals that the sharp rise in deposits did not trigger a comparable accumulation in Binance wallets. In fact, a majority of the tokens were therefore withdrawn, exchanged or transferred to other accounts after their arrival on the exchange.

Binance reserves remain almost stable

Transfers to an exchange are generally seen as a potential sell signal. Thus, holders often have to send their tokens to a platform before selling them. However, a deposit does not immediately equate to a sale in the spot market.

The XRP transferred can serve as collateral for derivative products, power market making activities, or respond to a simple portfolio reorganization. Internal movements between addresses that belong to the same platform can also inflate certain indicators without reflecting a real investment decision.

At the end of the period, Binance’s reserves stood at nearly 2.630 billion XRP. They had exceeded their quarterly benchmark by only 0.22%, despite the surge in incoming flows. There is therefore a strong rotation of tokens, rather than a massive accumulation on the exchange platform.

Nearly 1.6 billion XRP from major addresses also reportedly joined Binance in one month, the highest since March. This statistical confirms the renewed activity of major holders, but it does not make it possible to determine whether they have actually sold out. The hypothesis according to which the buyers would have absorbed all the offer submitted therefore remains an interpretation and not a conclusion automatically demonstrated by the flows.

The $1.80 threshold remains a technical scenario

XRP, Ripple’s crypto, gained more than 5% in 24 hours and neared an intraday high near $1.59. Thus, surpassing $1.50 has put the $1.80 zone back among the targets monitored by some traders.

An increase from $1.59 to $1.80 would still constitute an increase of nearly 13.2%. From the $1.50 threshold, the necessary movement could reach 20%. However, no valuation model is provided to precisely explain this objective. The $1.80 therefore represents potential resistance.

The continuation of the movement will depend above all on the ability of XRP to keep the threshold of 1.50 dollars. A simultaneous increase in Binance reserves and a slowdown in price could signal increasing selling pressure. Conversely, stable or decreasing reserves, combined with sustained volumes, would consolidate the hypothesis of demand capable of absorbing new deposits.