XRP Defies Support Crash With Sudden $184 Million Binance Inflow

Speculative traders in the derivatives market launched a large-scale counterattack to defend the XRP token from a prolonged decline after the release of tough macroeconomic data in the US. According to the analyst 'DarkFrost' from CryptoQuant, an abnormal capital inflow was recorded on Binance alone as key support levels broke: more than $184 million flowed into long contracts within a few hours. This allowed XRP to quickly recover from its drop below $1.30 and show a local rebound of 5%. The massive wave of selling began after XRP corrected by 22.5% from its September high of $1.65. Pressure on the cryptocurrency sector came from US consumer price (CPI) and producer price (PPI) indices that were "hotter" than expected, which triggered a drop in US stock indices.

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