XRP Exchange Reserves Reach the 99th Percentile of the Past Year as Binance Leverage Unwinds
Exchange reserves for $XRP stood at 11.81B on October 17, the 99th percentile of the past 365 days.
Binance $XRP open interest closed at $453.0M on October 17, down 15.8% from October 4.
Binance long liquidations totaled $25.7M on October 7–8, the largest two-day cluster in the past two weeks.
The leverage ratio fell from 0.205 to 0.170 and whale volume dropped 44% week over week, which suggests longs are being cleared rather than rebuilt while supply stays on exchanges.
"For now, the clearest reading is that leverage has reset faster than exchange supply has."
$XRP #XRP #CryptoQuant #Binance #OnChain #Crypto
Exchange reserves for $XRP stood at 11.81B on October 17, the 99th percentile of the past 365 days.
Binance $XRP open interest closed at $453.0M on October 17, down 15.8% from October 4.
Binance long liquidations totaled $25.7M on October 7–8, the largest two-day cluster in the past two weeks.
The leverage ratio fell from 0.205 to 0.170 and whale volume dropped 44% week over week, which suggests longs are being cleared rather than rebuilt while supply stays on exchanges.
"For now, the clearest reading is that leverage has reset faster than exchange supply has."
$XRP #XRP #CryptoQuant #Binance #OnChain #Crypto