XRP withdrawals from Binance hit a 2-year high amid deposit slowdown
XRP withdrawals from Binance jumped to 54.5% of exchange transaction activity this week—the highest share since 2024—according to CryptoQuant’s quicktake by Amr Taha. XRP withdrawals from Binance now outnumber deposits by 9.1 percentage points, widening to about 40% versus a year earlier.
Specifically, Binance XRP deposits fell to a 45.4% share, below the prior low of 46.7% seen last June. On an all-CEX basis, withdrawal share reached 53.01%, roughly in line with June 2025 levels, while deposit shares across centralized exchanges hovered near 46.9%. Binance’s withdrawal share is about 1.49 percentage points above the all-exchange average, suggesting Binance is leading the shift rather than simply following broader CEX behavior.
Traders often compare this setup to June 20, 2025, when a similar withdrawal-heavy pattern preceded a roughly 66% XRP rally (from about $2.11 to $3.50 by July 21). However, CryptoQuant cautions that these metrics track transaction counts (composition), not the actual volume moved or net exchange flows—so “capital leaving” is not proven.
Separately, recent order-book and reserve-related datasets have shown mixed signals, including prior selling pressure in the days before the withdrawal spike. Still, in the near term, the data implies a growing off-exchange preference for XRP, which can affect sentiment even if price impact remains muted.
Neutral
The article highlights that XRP withdrawals from Binance rose to a 2-year high share (54.5%) while deposits fell (45.4%), widening the withdrawal–deposit gap to 9.1pp. From a trader’s perspective, this can be read as a shift toward “self-custody” behavior, which sometimes precedes stronger upside moves—similar to the June 20, 2025 setup that preceded a ~66% rally.
However, the catalyst is not a confirmed net outflow in value terms. CryptoQuant notes these are transaction-count composition metrics, not volumes or net exchange flows. That means market participants could see improved sentiment without immediate, price-defining supply pressure.
Moreover, the piece mentions mixed order-book/reserve signals in the surrounding days (including prior selling pressure), implying the tape may still be driven by other factors. Net effect: neutral. In the short term, traders may watch for follow-through if withdrawals translate into clearer spot demand and reduced exchange sell pressure. In the long term, sustained outflow trends across CEXs would be more meaningful, but this article alone does not prove that.