XRP withdrawal activity on Binance has shifted significantly, with small transfers gaining ground relative to large ones. Between September 30 and October 20, withdrawals below 10,000 XRP surged from 3% to 19.7% of total outflow value, marking a 6.6-fold increase and the highest level since October 2024.
Conversely, transfers exceeding 1 million XRP declined substantially. On Binance, their share of outflows fell from 60% to 38.6%, according to CryptoQuant data. Mid-sized transfers between 100,000 and 1 million XRP increased from around 24% to 27%, though transfers above 100,000 units still represented 65.7% of total outflow value.
Coinbase experienced a sharper decline in large withdrawals, with transfers above 1 million XRP dropping from 43% to 12.5% of outflows between September 30 and October 20.
Exchange Reserves Accumulate
Beyond the shift in transfer sizes, exchange reserves have been climbing. Between October 5 and October 20, Binance XRP holdings increased from 2.60 billion to 2.66 billion tokens. Upbit reserves rose from 6.41 billion to 6.45 billion XRP, while Bithumb added tokens from 1.82 billion to 1.84 billion. The three exchanges collectively increased holdings by 120 million XRP, bringing combined reserves to 10.95 billion from 10.83 billion, with Binance accounting for half of the net increase.
XRP declined more than 5% over the week amid broader market volatility. Spot ETFs tracking the asset recorded zero net flows on Monday following $1.84 million in withdrawals the previous week.
