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Fresh proof-of-reserves data from Binance just landed, and it shows that users added over 59 million XRP to their net balances in just one month — going from 2.61 billion on July 1 to nearly 2.675 billion by Aug. 1.
Binance, for its part, matched the demand with an increase in reserves, now holding over 2.754 billion XRP — enough to cover liabilities with a 102.96% reserve ratio. That is slightly down from 103.09% in July, suggesting user balances grew faster than the platform's own XRP stash.
It is interesting to see that third-party custody went up from 56 million XRP to 76 million, which suggests they might be using more organized storage or optimizing their custody practices.
All in all, Binance also saw an increase in customer balances for BTC, FDUSD and USDC, but XRP's uptick is worth mentioning because it was so quiet.
XRP price doubles in summer
But here’s the twist: XRP’s price actually doubled in the first half of July, surging from around $2 to over $4 by mid-month. Then it cooled off just as fast, closing out July near $2.90-$3.10, based on Bitstamp’s feed. That kind of move usually brings short-term profit-chasing.
But the on-chain numbers suggest many stuck around — even added.
In a market where hype usually beats out long-term loyalty, this kind of quiet consistency might be the more important sign — especially when it is in the raw numbers, on-chain, timestamped and signed off by zk-SNARKs.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team