Daily XRP outflows from exchange transactions have spiked above 320 million tokens, according to data from CryptoQuant. Binance led the withdrawals, reducing its XRP reserves by approximately 57 million tokens over three days, erasing more than half of a two-week buildup.
The exchange's reserves fell from 2.70 billion to 2.647 billion tokens between September 27 and 30. Coinbase, Upbit, Bybit, and Bitget also showed heavy outflows during the period.
Historical Parallel
Analysts noted that a similar spike in outflows occurred in August, which preceded an XRP price rally from $1.05 to $1.50—a gain of more than 42%. The current outflow pattern has drawn comparisons to that earlier event.
Market Positioning Shifts
Binance XRP open interest in futures contracts fell to $521.5 million on September 29, down 15.3% from a six-month high of $616.1 million a week earlier. Long liquidations, or forced closures of bullish positions, averaged $3.72 million daily from September 24 to 29, approximately 2.6 times the six-month daily average.
Funding rates declined from 0.010 to 0.005, while leverage remained above its six-month mean. Some analysts attributed the reduced positioning to traders trimming leveraged positions before quarter-end rather than selling spot holdings.
Recent Performance and Outlook
XRP was trading near $1.50 at the time of reporting, with minimal movement on a daily and weekly basis. The token gained approximately 16% over 14 days and closed September with a third consecutive positive month, adding around 8% for the month.
XRP spot exchange-traded funds added over $121 million in September, bringing cumulative net inflows to nearly $1.8 billion since July. However, October has historically presented mixed results for the token, with only five of the last 13 Octobers finishing in positive territory.
