Binance No Longer Dominates XRP Whale Activity

XRP whale outflows are becoming less concentrated on Binance and increasingly distributed across other trading platforms, according to data from CryptoQuant. The Whale vs Retail Spread, which measures the difference between XRP outflow volumes generated by transfers above 100,000 XRP and those involving 100,000 XRP or less, has risen from 26% on May 6 to 50.9% on June 29.

This represents a 24.9 percentage point increase and indicates that large XRP transfers are making up a larger share of exchange outflows compared to smaller retail-sized transactions.

However, Binance's Whale vs Retail Spread has declined from 62% on June 11 to 44.6% on June 29, resulting in a gap between the exchange and the wider market.