XRP Reserves Surge on Binance, Does It Signal Flash Sell-Offs?

XRP traders moved assets to centralized exchanges, lifting total XRP exchange reserves to 11.81 billion on October 17 as Binance, a centralized crypto exchange, unwound leverage. CryptoQuant researchers said Binance XRP open interest was $453 million and long liquidations reached $25.7 million, the largest two-day total in two weeks, while Binance’s own reserve stood at 2.67 billion, in the 30th percentile for the year. Some analysts described exchange inflows as collateral for hedging rather than outright selling. XRP traded at $1.33, up 2.18% over 24 hours but down 2.31% over the week.