XRP recovers $1.50, but deposits on Binance jump 663%: What does it mean?
#Xrp🔥🔥
XRP reached $1.50 on September 21, rebounding strongly from lows near $1.27 at the beginning of this month. This price strength came alongside a notable increase in exchange activity.
XRP’s average daily deposits to Binance reached 21.7 million tokens, 663% above the quarterly average, according to on-chain data.$XRP
What triggered this sudden spike in exchange deposits?
The increase was concentrated in just three sessions. Binance recorded 91.2 million tokens on September 11, 44.5 million on September 16, and 41.7 million on September 17—days that coincided with the failed vote on the CLARITY Act and the first Federal Reserve rate hike since 2023.
Despite these large deposits, XRP reserves on Binance rose only 0.22% to approximately 2.63 billion tokens. Daily outflows averaged 11.6 million tokens over the same period. This pattern suggests increased token turnover in both directions, rather than sustained selling pressure.
#Xrp🔥🔥
XRP reached $1.50 on September 21, rebounding strongly from lows near $1.27 at the beginning of this month. This price strength came alongside a notable increase in exchange activity.
XRP’s average daily deposits to Binance reached 21.7 million tokens, 663% above the quarterly average, according to on-chain data.$XRP
What triggered this sudden spike in exchange deposits?
The increase was concentrated in just three sessions. Binance recorded 91.2 million tokens on September 11, 44.5 million on September 16, and 41.7 million on September 17—days that coincided with the failed vote on the CLARITY Act and the first Federal Reserve rate hike since 2023.
Despite these large deposits, XRP reserves on Binance rose only 0.22% to approximately 2.63 billion tokens. Daily outflows averaged 11.6 million tokens over the same period. This pattern suggests increased token turnover in both directions, rather than sustained selling pressure.
