XRP Backed at 100.84% in Binance August Proof-of-Reserves Update

XRP News

Binance has published its August proof-of-reserves update, the 45th disclosure on its reserve page, showing that XRP (XRP) is backed at a 100.84% ratio for customer balances. The exchange stated that all user liabilities remain supported one-for-one and that several major assets carry ratios above the full-backing baseline. In this context, XRP is presented alongside Bitcoin, Ethereum, BNB, Solana, USDT and USDC as a core listed asset in the reserve breakdown. The update also shows Bitcoin at 100.25%, Ethereum at 100.25%, USDT at 103.62%, BNB at 100.82%, Solana at 100.00%, USDC at 107.64% and USD1 at 112.80%. For readers tracking custody risk, the report is a monthly transparency exercise rather than an airdrop or promotional campaign. It gives account holders a snapshot of whether exchange liabilities are matched by assets, and it places the altcoin reserve ratio slightly above the minimum one-to-one level. Binance also noted that user Bitcoin balances rose 2.7% from the prior report to about 658,293 BTC, while USDT balances fell 2.4% to $34.1 billion and Ethereum balances declined 2.3% to roughly 3.9 million ETH. Those shifts frame the broader balance-sheet environment in which XRP's 100.84% coverage was reported. The figures do not address legal ownership or regulatory status; they describe only the exchange's reported asset-to-liability coverage as of the August release.

Derivatives venue BitMEX is accelerating the removal of XRP futures as part of its broader wind-down, according to the exchange's official announcement. The contract identified as XRPU26 will be delisted on Aug. 10 at 12:00 p.m. UTC, together with ADA, ETH and Bitcoin contracts, rather than remaining available through the end of September as previously scheduled. The earlier timeline is tied to BitMEX's full shutdown on Sept. 23. To settle outstanding exposure fairly, the platform said it will use adjusted indexes, with final rates based on time-weighted average prices, a method that averages prices over a defined window, calculated on Aug. 6. Traders holding XRP positions can close them manually before the delisting deadline or allow automatic settlement using that reference rate. Starting Aug. 26, the venue will move into close-only mode, preventing new entries while allowing existing exposure to be reduced. The notice effectively compresses the decision window for XRP derivatives users who must migrate, unwind or accept settlement terms. This matters because futures markets can amplify spot sentiment through leverage, and the removal of an XRP contract from a historically significant derivatives platform reduces one venue for expressing leveraged views on the token. The shutdown also adds operational friction: any funds remaining in user wallets after the final closure will be subject to a custody fee, according to the exchange notice.

On-chain data reviewed by COINOTAG shows Bitwise, one of the largest XRP exchange-traded-fund issuers, sold roughly $3.58 million of XRP on Thursday, Aug. 6, while the token traded near $1.04. The transfer is notable because Bitwise had been a consistent buyer since XRP ETFs launched late last year, making a sale an outlier in its recent accumulation pattern. The transaction appears to be a cautious response to prolonged weakness rather than a definitive bearish signal, though the distinction matters little to traders watching fund flows in real time. XRP began August with firmer price action but quickly lost momentum, retracing to levels not seen in several weeks. Historical seasonal patterns have often treated August as one of the token's weaker months year over year, and this year's early action is following that familiar route. The sale lands as larger holders appear more defensive, with price volatility encouraging institutions to manage exposure rather than add risk. In that setting, the Bitwise transaction reads less like a commentary on the asset's long-term role and more like a risk-control step during a bear market stretch. It also underscores that even issuers closely tied to XRP products can adjust holdings when market conditions deteriorate, especially when the token is far from an all-time high phase and sentiment remains fragile.

COINOTAG's analysis ties these developments to a single theme: XRP's market structure is being tested while custody disclosures remain routine. The load-bearing primary records are clear. Binance's official reserve page states a 100.84% XRP backing ratio, while BitMEX's exchange notice sets Aug. 10 for XRP futures delisting ahead of its Sept. 23 closure. On-chain data separately records Bitwise's $3.58 million sale near $1.04. Our reading is that these are not three unrelated signals. They show an ecosystem where exchange custody reporting continues, derivatives access contracts and institutional holders trim exposure during weak price action. The near-term question is whether transparent reserve coverage can offset reduced venue depth and cautious fund behavior.