Coinbase Sees Surge in Whale-Sized XRP Withdrawals Amid Stable Binance Activity

XRP whale outflow from Coinbase has increased significantly over the past two weeks. According to data from CryptoQuant, transfers above 1 million XRP made up roughly 10% of the platform's outflow value on June 16, but by July 1, that share had climbed to 25.7%. This represents a substantial shift, with whale-sized transactions more than doubling their weight in Coinbase's outflow mix.

In contrast, Binance has seen relatively stable withdrawals above 1 million XRP, holding near half of the total outflow value across the same window. On July 1, this figure stood at 49.6%, indicating that nearly one in every two dollars leaving the exchange belonged to a whale-sized transfer.

The charts provided by CryptoQuant show the breakdown of withdrawals on both platforms by transfer size. Coinbase's daily outflow chart reveals that the share of transfers below 10K sat at 7.8% as of the latest reading, while the 100K to 1M band still carried more than half the platform's volume at 56.1%. Binance's version of this chart shows a steadier pattern, with its 100K to 1M tier sitting at 25.2%, and the 10K to 100K band coming in at 14.7%.

The CryptoQuant writeup does not confirm a destination for the coins leaving Coinbase, but simply flags the shift. Large holders are accounting for an increasingly large slice of Coinbase withdrawals right as Binance continues to run its familiar whale-heavy pattern.