According to CryptoQuant data, the share of XRP withdrawals on Binance has significantly increased in the last week. The 7-day share of XRP withdrawals has risen to 53.8% as of today, reaching its highest level since June 2024.
During the same period, the share of XRP deposits on Binance fell to 46.1%. This level was recorded as the lowest rate since 2024. Thus, withdrawal transactions exceeded deposit transactions by 7.7 percentage points.
CryptoQuant added that this divergence wasn’t just a one-day phenomenon. According to the data, XRP withdrawals have consistently outperformed deposits for seven consecutive days since June 17th. This suggests a more sustained shift in XRP trading behavior on Binance.
The shared chart shows a clear reversal in the XRP transaction balance, with withdrawals now accounting for a larger share of total transaction activity. Conversely, the share of deposits has fallen to its weakest level in nearly two years.
However, CryptoQuant noted that this metric measures the proportion of XRP deposit and withdrawal transactions on Binance, not the amount of XRP transferred or its value in dollar terms. Therefore, an increase in withdrawal transactions alone should not be considered a direct buy or sell signal.
*This is not investment advice.
