TL;DR
- Binance registered an average of 21.7 million XRP deposits per day during the week ending September 20, marking a 663% increase from its quarterly baseline.
- Despite the sharp rise in deposits, Binance’s XRP reserves remained near 2.63 billion tokens, suggesting buyers absorbed much of the incoming supply.
- XRP climbed above $1.50 and reached an intraday high near $1.59, putting the $1.80 level back in focus as market momentum strengthens.
XRP inflows on Binance have surged as trading activity accelerates, adding another signal that demand for the token remains active. CryptoQuant data shows that average daily deposits reached 21.7 million XRP during the week ending September 20, dramatically exceeding the exchange’s quarterly baseline.
The sharp increase in exchange deposits would normally raise questions about potential selling pressure. However, Binance’s XRP reserves have barely changed, creating a different picture of the market. The data suggests that a large portion of the tokens entering the exchange has been absorbed by buyers rather than accumulating in available reserves.
XRP Inflows Point To Stronger Market Demand
According to CryptoQuant, Binance held approximately 2.63 billion XRP, only 0.22% above its quarterly baseline. Weekly reserves increased by just 0.34%, despite the 663% surge in average daily deposits.
This divergence between deposits and reserves provides an important clue about current trading conditions. Higher inflows can sometimes precede selling, but the limited increase in exchange reserves indicates that XRP supply is also being actively purchased. For traders, the relationship between exchange flows and reserves can offer additional insight beyond price movements alone.
XRP’s broader market structure has also benefited from renewed buying momentum. The token moved above the $1.50 resistance zone and reached an intraday high of around $1.59, representing a gain of more than 5% over 24 hours based on the referenced market data.
$1.80 Emerges As The Next Price Focus
Breaking above $1.50 places greater attention on the $1.80 area, a level that has remained a significant reference point for traders tracking XRP’s current advance. A sustained move above resistance could keep momentum elevated, although price action remains dependent on liquidity, broader market conditions and continued demand.
The Binance data adds another layer to the bullish case without guaranteeing a specific price outcome. If buyers continue absorbing XRP at the same pace, reduced growth in exchange reserves could support tighter available supply and reinforce upward pressure.
