XRP Whales Outpace Retail Holders in Exchange Withdrawals

XRP whales are increasingly moving their coins off centralized exchanges at a faster pace than retail holders, new data suggests.

The gap between whale and retail activity has widened over the past weeks, according to CryptoQuant's data. Specifically, the all-CEX reading rose from 26.0% on May 6 to 50.9% on June 29, a 24.9% point increase.

This disparity indicates that large holders are withdrawing XRP more prominently than retail participants. While retailers may be hesitant amid price uncertainty, whales are actively moving their coins off exchanges.

The data does not reveal the motivations behind these withdrawals or where the coins are being moved to. However, recent on-chain activity suggests an uptick in self-custody wallets, with more unique addresses becoming recipients of XRP across the network.