XRP supply on Binance drops to 4-year low as 220 million tokens exit in 2 days

XRP reserves on Binance have plunged to their lowest point in nearly four years, with analytics platform CryptoQuant reporting a sharp downturn in supply held on the world’s largest crypto exchange by volume. The decline emerges alongside a period of volatility in the broader crypto market, where most digital assets have faced heavy selling pressure in recent weeks. On October 30, Binance’s XRP reserves dropped to 2.47 billion, falling from 2.69 billion just two days earlier. This marks a reduction of over 220 million XRP, or nearly 8.18%, withdrawn from the exchange within a 48-hour span. The last time Binance’s XRP balance was this low was December 2022. Analysts tie the rapid decrease to heightened accumulation by traders and large holders, as tokens are withdrawn from the trading platform.

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