An analyst has recorded the maximum XRP activity on Binance in the last 18 months

A CryptoQuant researcher by the name of Maarten stated that transaction activity with Ripple (XRP) on the Binance cryptocurrency exchange has reached its highest level in the past 18 months. According to the Netflow TxCount (Netflow TxCount), the number of deposit transactions with the digital coin has far exceeded withdrawals. This indicates a noticeable surge in interest in the cryptocurrency. The graph shows the difference between XRP deposit and withdrawal transactions on Binance. The recent spike of 470 transfers (30-day averages) indicates a surge in deposits. Thus, recent activity indicates more deposits to the exchange than withdrawals. Analysts attribute this trend to several reasons. First, the popularity of XRP among retail investors has grown significantly. This is confirmed by the increase in the number of small transactions. Unlike large holders, who prefer single but significant transactions, retail users actively make numerous small transfers.

Secondly, XRP continues to be a sought-after cryptocurrency, especially after long periods when users were withdrawing assets from trading platforms more than depositing

them.

The current dynamics may indicate a shift in sentiment in favor of XRP. This may be due to the asset’s improved reputation or external factors such as regulation or positive news in the Ripple ecosystem.

Third, Binance maintains its popularity with XRP traders. The exchange acts as a key platform for cryptocurrency trading due to its high liquidity and user-friendly tools. This makes the platform attractive to those looking to capitalize on XRP market activity.