The top cryptocurrency exchange Binance has released its eleventh proof of reserve, which shows the balances as of October 1.
The crypto exchange reported holding 2.6 billion XRP in user assets in its proof-of-reserves report, which confirms that Binance holds user assets 1:1. Customer net balances on Binance totaled 2,629,459,187.625 (2.62 billion) XRP.
The XRP net balance on Binance is now 2.73 billion more at 2,738,661,519.884. The collateral for XRP is 104.15%, indicating that the exchange has a 4.15% reserve set up for XRP deposits.
According to Wu blockchain, users’ USDT assets were 15.31 billion, a reduction of 0.8%, users’ ETH assets were 3.83 million, a decrease of 1.6%, and users’ BTC assets were 588,879, up 0.12% from a month earlier.
The largest XRP market is on Binance, and most XRP trade volumes during the last day have been on the XRP/USDT trading pair. According to data from CoinMarketCap, 1.463 billion XRP worth $762,436,233 were traded in the previous day.
The majority of XRP trade is also driven by Coinbase and Bithumb, the second and third-largest cryptocurrency exchanges in South Korea, respectively.
XRP price action
On October 3, XRP’s price increased by as much as 8% to $0.548 before falling back to its current price. At the time of writing, the price of XRP has dropped by 0.44% to $0.521 in the previous day.
Bulls are now preventing bears from returning to the triangle in which XRP traded prior to its breakout on October 3.
The bulls will attempt to break through the overhead resistance at $0.56, which, if successful, might signal the beginning of a new surge.
The XRP price might then start to rise towards the desired 0.66 level. The price might become more range-bound in the next days if it drops below $0.511, which also happens to be the MA 50.
