XRP Whale Withdrawals Surge on Coinbase, Binance Reserves Plummet

A significant trend is emerging in XRP (XRP) holdings on major cryptocurrency exchanges. Large XRP holders, or 'whales', are making up an increasing share of withdrawals from these platforms.

New data from CryptoQuant shows that whale outflows have surged on Coinbase, while XRP reserves on Binance and Upbit have dropped to multi-month lows.

On Coinbase, transfers of over 1 million XRP now account for nearly a quarter (25.7%) of the exchange's total XRP outflow value, up from just 10% two weeks ago. This trend is similar to that seen on Binance, where whale withdrawals consistently make up around half of all XRP outflows.

The data suggests that larger holders are playing a greater role in XRP leaving the exchanges, but it does not reveal where these tokens are ultimately being sent. Analyst Amr Taha notes that lower exchange balances can have several explanations, including tokens moving to private wallets or being transferred between exchanges.