XRP Reserves on Binance Hit Lowest Level Since 2022

As the broader crypto market continues to face intense selling pressure due to the prolonged market volatility seen over the past weeks, XRP appears to be seeing rising demand instead. While its price is also struggling amid the market downturn, onchain data from crypto analytics platform CryptoQuant shows that more tokens are leaving major exchanges instead, which could be interpreted as intense buying. The data shows that XRP reserves on the world's largest exchange by volume, Binance, have dropped to their lowest level since December 2022. As of October 30, Binance has seen its XRP reserve fall to 2.47 billion XRP from the 2.69 billion XRP it recorded on October 28, marking a sharp decline in its holdings in just two days.

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