XRP trading volume on Binance has surged recently, but data indicates this spike is driven by high turnover rather than pending sell pressure. Over the past week, daily inflows to the exchange averaged 21.7 million XRP, fueled by large deposits on September 11th (91.2 million XRP), September 16th (44.5 million), and September 17th (41.7 million).
Despite these significant deposits, Binance’s XRP reserve stood at approximately 2.63 billion coins, increasing only 0.34% during the same period. This suggests much of the incoming supply is being moved back out or redistributed. Daily outflows averaged 11.6 million XRP, helping offset the larger inflows and creating a volatile environment for investors.
Binance sees XRP turnover rise, but reserves remain stable
Recent activity shows heavy XRP deposits into Binance, yet the exchange’s overall reserve barely moved. With daily inflows averaging 21.7 million XRP over the past week, the reserve increase of just 0.34% indicates that incoming supply is being offset by outbound flows. Daily outflows averaged 11.6 million XRP, contributing to a balanced but uncertain trading environment.
Large one-off deposits, including 91.2 million XRP on September 11th, 44.5 million on September 16th, and 41.7 million on September 17th, drove the influx. However, the stable reserve suggests traders are redistributing holdings rather than preparing to sell, leaving the market poised for a significant move once direction is confirmed.
XRPL activity nears infrastructure upgrade
The XRP Ledger is approaching a key update with Batch V1.1, which received approval from 85.71% of validators (30 of 35) on September 15th. This surpassed the 80% threshold needed for activation, with a 14-day window closing on September 29th. The upgrade allows users to bundle up to eight transactions into one “atomic” transaction, potentially simplifying delivery versus payment and multi-account transfers.
With the network already processing approximately 2.08 million transactions per day, the upgrade will likely enhance settlement efficiency rather than expand base capacity.
XRP price tests resistance amid improving momentum
XRP’s recovery has defended the $1.24 support area, climbing toward $1.42 and reclaiming the middle of its range. Multiple higher lows since the September 16th selloff indicate growing buying power at lower levels. However, sellers continue to control the $1.49 resistance zone, having rejected price there repeatedly.
The Relative Strength Index is rising at 57.44, leaving room for further upside without being overbought. A break above $1.49 would strengthen momentum, while rejection could keep XRP range-bound.
