Analyst: Binance had a single-day outflow of 418.5 million XRP, setting the largest single-day record in 9 months

Cryptocurrency analyst Darkfost posted that a total of 418.5 million XRP flowed out of Binance, valued at approximately 540 million dollars based on the price at that time, exceeding the 315 million coins on the day of the 6.3 billion dollar hack incident at Binance, setting the largest single-day outflow record in nearly 9 months.

This large outflow occurred as XRP rebounded above 1.3 dollars after a 27% correction from its peak in late September. Darkfost pointed out that a significant amount of XRP leaving the exchange is often seen as a signal for investors to accumulate assets, and it also reduces the supply of tokens available for immediate sale in the market, but this does not necessarily mean that prices will rise. Some of the outflows may also stem from internal fund transfers within the exchange, and it remains to be seen whether this trend can continue.