Binance saw a single-day outflow of 418 million XRP, a record high in nearly nine months.

On November 4, a total of 418.5 million XRP were withdrawn from Binance, worth approximately $540 million. This surpasses the 315 million XRP withdrawn on October 29, the day of the $630 million Binance hack, marking the largest single-day outflow in nearly nine months. This outflow occurred as XRP rebounded above $1.30 after a 27% pullback from its late September high. Crypto analyst Darkfost stated that a large amount of XRP leaving exchanges reduces the supply of tokens available for immediate sale in the market, and some of the outflow may also stem from internal fund transfers within exchanges.