XRP Tests $1.55 Resistance Level as Binance Exchange Reserves Expand
XRP is testing resistance near $1.55 following a recovery from its recent lows, accompanied by high turnover on exchanges.
XRP traded near $1.54 after recovering from a low of $1.39 on September 20. The token reclaimed the $1.40 mark before encountering resistance around $1.55, subsequently finding temporary support near $1.52.
On-chain and exchange data indicate that XRP reserves on Binance climbed to approximately 2.68 billion tokens, up from nearly 2.55 billion during the summer. While daily deposit volumes on the platform surged 663% above quarterly baseline averages during peak sessions, corresponding withdrawals left net exchange reserves roughly flat at 0.22% above normal levels.
Analytics suggest that the elevated turnover reflects active position adjustments among market participants rather than sustained unilateral accumulation or distribution. Maintaining upward momentum will depend on the market's capacity to absorb these two-way flows as price approaches key resistance thresholds.
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