XRP reserves on exchanges hit 11.8 billion as Binance open interest falls 16%

The supply of XRP available across cryptocurrency exchanges has climbed close to its annual peak, even as the token’s price struggles with volatility and downward momentum. According to the latest data from blockchain analytics firm CryptoQuant, XRP exchange reserves have surged to 11.81 billion tokens as of October 17, representing one of the highest levels recorded over the past twelve months. CryptoQuant data revealed that XRP’s aggregate reserves on major trading platforms remain considerably higher than average. While this level has not reached a new yearly high yet, the available supply remains near its upper range observed for 2023. Market analysts say the elevated exchange reserves suggest that more tokens are accessible for potential trading or selling.

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