Although XRP has faced six consecutive weeks of bearish sentiment, on-chain data shows rising demand as its reserves on Binance, the cryptocurrency exchange with the highest daily trading volume and most registered users, plummeted to a new multi-year low.
The XRP reserves on Binance – Simple Moving Average (SMA) were at 2,602,538,678.3 tokens on Sunday, according to data Coinpedia retrieved from CryptoQuant on November 9, 2026.
XRP reserves on Binance SMA (30). Source: CryptoQuant
XRP reserves on Binance declined sharply over the past 30 days, with the exchange balance falling by nearly 42 million tokens. With the altcoin hovering above a crucial support level at $1, Binance’s XRP reserves capitulated by more than $42 million over the four weeks.
Historically, a reduced XRP balance on Binance has been associated with bullish sentiment. Furthermore, the shrinking reserves reduced the available tokens for trading, possibly also suppressing selling pressure.
Even though on-chain data shows rising demand from investors, XRP price has been trapped in a choppy consolidation. Over the past 24 hours, the altcoin has fallen by more than 5% to $1.09, as per metrics from CoinMarketCap.
XRP price performance today. Source: CoinMarketCap
Nonetheless, the token’s 24-hour trading volume had soared by nearly 300% to $3.5 billion at the time of publication.
The term outlook for the altcoin is well positioned to be influenced by mainstream institutional adoption. Moreover, the token has significantly benefited from the XRP Ledger tokenization growth.
At the time of reporting, the Distributed Asset Value (DAV), the real world assets (RWA) tokens using blockchain as distribution layer, on the XRPL network had rallied by nearly 30% over the past 30 days to $643 million, as per updates from RWA.xyz.
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