240 million XRP withdrawn from major exchanges since late May amid weak price action, though large transaction volume on the XRP Ledger surged 280%.
Macro & Markets ·
Approximately 240 million XRP has flowed out of major exchanges since late May, marking a sustained withdrawal trend that outpaces deposit activity. Over the same period, XRP's price has declined nearly 10% and remains below $1, while other digital assets have posted modest gains. Binance has experienced the sharpest percentage decline in XRP reserves, though Upbit and Bithumb continue to hold substantial tracked supply.
The withdrawal pattern contrasts sharply with on-chain activity: large transaction volume on the XRP Ledger surged 280%, signaling elevated whale participation even as broader sentiment around XRP hit a three-month low. This divergence between exchange outflows and elevated on-chain transaction volume raises questions about whether holders are consolidating positions off-exchange or moving funds to prepare for future activity.
It remains unclear whether the sustained outflows reflect accumulation by long-term holders, repositioning to other platforms, or structural shifts in how XRP liquidity is distributed. The combination of weak price action and depressed social sentiment alongside increased large-transaction activity suggests holders and traders are sending conflicting signals about XRP's near-term direction.