Binance XRP Reserves Fall by 57 Million Tokens in Three Days

Over the three days through Sept. 30, Binance held about 57 million fewer XRP, reversing more than half of its reserve increase since Sept. 13.

Reserves rose from about 2.60 billion XRP on Sept. 13 to 2.70 billion on Sept. 27, then declined to 2.647 billion by Sept. 30. The drop was about 2.1% over three days.

Daily XRP outflows in transactions of at least 1 million tokens also exceeded 320 million. In August, a spike of similar size coincided with XRP moving from $1.05 to $1.50, a gain of more than 42%.

Derivatives activity declined during the period. Binance XRP open interest, the value of open futures positions, reached $521.5 million on Sept. 29, down 15.3% from a six-month high of $616.1 million a week earlier.

Long liquidations averaged $3.72 million per day from Sept. 24 to 29, about 2.6 times the six-month daily mean. Funding rates halved from 0.010 to 0.005, while leverage remained above its six-month mean of 0.169.