Binance Sees Significant XRP Inflow Amid Price Decline

Binance, a leading cryptocurrency exchange, has witnessed a substantial influx of XRP in the past 24 hours. The exchange saw over 31 million XRP worth approximately $45 million flow into its platform, with large holder wallets being the primary contributors to this movement.

The influx of XRP was largely concentrated among wallets holding between 100,000 and 1 million XRP, which transferred a total of 14.2 million XRP during the same period. Addresses with over 1 million XRP also participated in the transfer, moving around 14.5 million XRP.

However, despite this significant influx, the exchange supply ratio dropped from 0.027 to 0.025 over the past ten days. This metric tracks the share of circulating XRP held on exchanges and can impact short-term liquidity.