XRP climbed toward $1.50 on September 21, recovering sharply from lows near $1.27 earlier this month. That price strength arrived alongside a striking spike in exchange activity.

Average daily XRP inflows into Binance reached 21.7 million tokens, 663% above the quarterly baseline, according to on-chain data.

What Triggered This Sudden Spike in Exchange Flows

An exchange inflow refers to tokens moving from private wallets into a trading platform, typically signaling either preparation to sell or repositioning for trading purposes. The distinction matters for interpreting XRP’s current setup.

The surge concentrated in just three sessions. Binance recorded 91.2 million tokens on September 11, 44.5 million on September 16, and 41.7 million on September 17, days that overlapped with the failed CLARITY Act vote and the Federal Reserve’s first rate hike since 2023.

Despite those large deposits, Binance’s XRP reserves rose just 0.22% to roughly 2.63 billion tokens. Daily outflows averaged 11.6 million tokens over the same period. That pattern points toward elevated two-way turnover rather than sustained one-sided selling pressure.

Whale wallets added further context. Last week, large holders increased their combined XRP holdings by approximately 1.54 billion tokens, worth $2.2 billion, within 96 hours, according to Santiment-linked data shared by analyst Ali Martinez, reinforcing the accumulation narrative surrounding the token.

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Could This Rally Reverse in the Coming Sessions?

Technical indicators point to specific levels worth watching closely. XRP recently formed a rare bullish setup, only the fourth time in its trading history that price rebounded this sharply from a key long-term support band, with the 50-week moving average near $1.51 standing out as the primary target.

Clearing that level convincingly could open a path toward the $1.80 pocket. A key volume-based support zone sits near $1.38, an area where heavy prior trading activity has repeatedly reinforced price stability.

Network metrics remain mixed, though. The network value to transactions ratio fell 32.1% and transaction counts declined, even as open interest climbed to $477 million with liquidations occurring on both sides. Rising leverage suggests potential for expanded volatility rather than a confirmed directional trend.

A rejection at the 50-week moving average could trigger a pullback toward that $1.38 support zone. Losing that level might expose the $1.29 to $1.30 region next, where a shorter-term moving average and recent accumulation activity converge.

Stable exchange reserves and continued whale accumulation offer some cushion against extreme downside scenarios. Still, elevated leverage means sharp moves remain possible in either direction.

Market participants continue monitoring volume, funding rates, and net exchange flows closely as the current $1.40 to $1.55 range plays out this week.

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Source: BeInCrypto