Binance XRP Withdrawals Hit Highest Since June 2024
Withdrawal transactions on Binance made up 53.8% of XRP activity over a seven-day period starting June 17, exceeding deposits and the largest share since June 2024.
CryptoQuant analysis shows withdrawal transactions for XRP on Binance accounted for 53.8% of transaction activity over a seven-day rolling period beginning June 17. Deposit transactions on Binance fell to 46.1% over the same period, a 7.7 percentage-point gap with withdrawals outnumbering deposits for seven consecutive days.
The firm’s chart, which tracks Binance deposit and withdrawal transaction shares from mid‑2024 through June 2026, shows withdrawal activity rising while deposit activity declined. The analysis was published as XRP traded near $1.10 on June 23.
CryptoQuant’s metric counts transactions rather than the value or volume of XRP moved. A higher withdrawal share indicates more withdrawal transactions than deposits but does not directly measure net outflows or the amount of XRP moved on or off exchanges. The report wrote: “XRP Withdrawals Dominate Binance for Seven Straight Days, Hitting 53.8% — Highest Since June 2024.” It also cautioned: “A higher withdrawal share indicates that withdrawal transactions are outnumbering deposit transactions on Binance, but it should not be treated alone as a direct buy-or-sell signal.”
The report included data from other exchanges. A separate analysis published June 18 showed Coinbase’s net depositing/withdrawing transaction reading moved deeper into negative territory, indicating more withdrawals than deposits. Bybit’s net reading fell from about +27,000 on June 7 to around −200 by June 18, reversing most of its early-June deposit surge.
Because the metric measures transaction counts, the firm noted additional data on transaction volumes and exchange balances is needed to determine actual capital flows and how much XRP may have left exchange custody. The available charts show a change in the composition of exchange transactions across several platforms in June, but they do not quantify the size or type of transfers.
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