XRP transfers involving more than 1 million tokens have come to represent the largest share of daily outflow value on both Binance and Coinbase, according to data from the CryptoQuant XRP Exchange Daily Outflow by Value Bands indicator.
The metric tracks the share of outflow value based on transfer size rather than the total amount of XRP leaving an exchange. This means that even if overall withdrawals remain steady, an increasing share of large transfers indicates that high-volume participants are driving a larger portion of the outflow activity.
Binance Outflows See Rise in Large Transfers
On Binance, transactions exceeding 1 million XRP accounted for 60.8% of the daily outflow value on September 30, recovering from roughly 45% on August 13. This return to the 60% range matches levels last seen in late August.
Meanwhile, mid-sized transfers in the 100,000 to 1 million XRP category moved in the opposite direction. That value band represented about 30% of Binance's outflow value on September 6, but its share declined to 23.4% by September 30 as large transfers grew.
Coinbase Records a Pronounced Shift
Coinbase exhibited an even larger change during the same period. Transfers of more than 1 million XRP made up 48.7% of daily outflows on September 30, up from approximately 37% on August 27 and nearly 19 percentage points higher than the 30% recorded on July 6.
The mid-sized 100,000 to 1 million XRP category on Coinbase experienced a corresponding drop, falling from about 67% of outflow value on September 19 down to 37% by the end of the month.
Activity Continues Into October
The simultaneous shift across multiple platforms highlights a broader change in the size of XRP withdrawals rather than an isolated event on a single exchange. The trend persisted into early October, with large holders withdrawing approximately 301 million XRP combined from Binance, Coinbase, Bybit, and Bitget on October 1. Binance accounted for about 151 million XRP of those outflows, while Coinbase saw around 32 million XRP leave its platform.
On the following day, daily transfers exceeding 1 million XRP across exchanges surpassed 320 million tokens, marking one of the largest single-day spikes in recent records. Concurrently, Binance's XRP reserves decreased by roughly 57 million tokens over a three-day span, reducing its balance to approximately 2.647 billion XRP.
