XRP Reserves Soar: A Bear’s Dream Come True! 🐻💸

by

TL;DR

  • XRP reserves on Binance have reached 3.58B, a feat that would make even a medieval alchemist weep with joy. 🧙‍♂️
  • Whales, those giant sea creatures, have deposited less than usual, offering a brief reprieve from the chaos. 🐋
  • Futures open interest is $7.43B-because nothing says “excitement” like a trillion dollars in bets. 🎰

Binance Reserves Reach New High

XRP reserves on Binance have climbed to 3.58 billion tokens, a 12-month peak. This is akin to a squirrel hoarding acorns, but with more cryptocurrency and fewer nuts. 🐿️

The price of XRP dropped below $2.74, a level that had previously held firm like a stubborn wall. A breakdown here is as thrilling as a soap opera cliffhanger. 📺

$XRP exchange reserves on Binance just spiked to 1-year highs, signaling heavy selling pressure. 🚨

The breakdown from $2.74 confirms bearish momentum, with recovery to $3+ looking unlikely in the near term. 🕳️

Caution ahead this September #XRP 🐻

– Greg Miller (@greg_miller05) September 5, 2025

Whale Activity Slows but Pressure Remains

On September 5, large XRP transfers to Binance dropped to 1,588 tokens. This is well below the 30-day average of 4,715 XRP. A decline in whale transfers may ease some immediate sell pressure, at least in the short term. 🐋

Despite the daily drop, whale activity over the past month remains higher than usual. This means large holders may have already moved their tokens in advance. XRP moved from $2.74 to $2.85 following the lower whale inflow, showing a modest 24-hour rise. 📈

In addition, XRP futures open interest is now at $7.43 billion. This follows a recent high of $7.59 billion. The spot price stood at $2.80 at the same time. High open interest during a declining or flat price period suggests many positions remain active. 🌀

This setup may lead to sharp price moves if those positions begin to unwind. A build-up of leverage can increase volatility, especially when the asset moves away from its current range. Traders are watching closely for signs of stronger moves in either direction. 🕵️‍♂️

Traders Focus on Key Support and Resistance

XRP’s price was at $2.81 at press time, with a 24-hour decline of 1%. Over the past week, the price has gone down slightly as well. Analysts are watching the $2.85 level for potential short-term momentum. Crypto analyst EGRAG CRYPTO noted that a close above $2.85 could open a path to $2.90, $2.95, and possibly $3.13. 🧮

However, if the asset fails to hold $2.85, a drop toward $2.65 remains possible. With exchange reserves at yearly highs and whale flows mixed, traders are watching closely. Price action in the coming days may offer clearer direction. 🌀

Read More

2025-09-05 18:35