Key facts
- XRP exchange reserves reached 11.81 billion XRP, the 99th percentile of the past year.
- Binance XRP open interest closed at $453.0 million on October 18.
- Leveraged traders were shaken out, but coins remain on exchanges.
- Evernorth, a Nasdaq-listed XRP treasury company, manages 473 million XRP.
- Doppler's XRP Vault has $125 million in total value locked.
XRP exchange reserves have surged to 11.81 billion XRP, reaching the 99th percentile of the past year, according to on-chain data from CryptoQuant. This increase in supply on exchanges occurred alongside a deleveraging event on Binance, where open interest declined by approximately 15.8% and long liquidations spiked. Analyst CryptoOnchain noted that leverage has reset faster than exchange supply has accumulated. This follows a period of high whale inflows to Binance weeks prior. XRP has been trading in the $1.28–$1.35 range, with price softening after September PPI data came in above forecasts. Structural demand factors include Evernorth, a Nasdaq-listed XRP treasury company, deploying institutional strategies with partners like Ripple and Kraken. Ripple's approval of the Sponsored Fees and Reserves amendment on the XRPL and Doppler's XRP Vault crossing $125 million in TVL also indicate coins being drawn from exchanges. Spot XRP ETFs have seen cumulative net inflows of $1.8 billion, though daily flow momentum has moderated.