XRP holdings on Binance and other platforms continue to fall as large investors withdraw 301 million tokens from major exchanges.
XRP remains above $1.48 even amid broader market selling pressure, yet on‑chain data reveals that large holders are shifting substantial amounts of the token off exchanges.
Investors withdrew 301 million XRP from Binance, Coinbase, Bybit, and Bitget. The magnitude of these outflows is notable, indicating that large holders are moving XRP to private wallets for longer‑term holding.
Significant XRP Withdrawals Across Exchanges
On September 29, large‑scale XRP withdrawals surged across Binance, Coinbase, Bitget, and Bybit. For context, the data only tracks spot‑exchange withdrawals exceeding 1 million XRP, meaning it primarily reflects activity by large holders rather than retail users.
Binance saw the largest outflow, with about 151 million XRP leaving the exchange during the session — roughly half of the total 301 million XRP withdrawn from the four platforms.
Bybit followed with approximately 68 million XRP, Bitget recorded 50 million XRP, and Coinbase saw around 32 million XRP withdrawn.
The fact that all four exchanges reported significant outflows underscores the breadth of the movement, indicating it is not isolated to a single platform.
Binance had already shown signs of this trend prior to September 29. Starting around September 21, the exchange observed large XRP withdrawals across multiple sessions, with daily outflows ranging from 50 million to 90 million XRP. The September 29 figure exceeded that range.
Binance XRP Reserves Trend Downward
Binance’s XRP reserves offer further insight into the trend. Between September 13 and 27, the exchange’s XRP holdings rose from approximately 2.60 billion to 2.70 billion tokens — an increase of roughly 100 million XRP over nearly two weeks.
However, the increase was short‑lived. Between September 27 and 30, Binance’s XRP reserves fell from 2.704 billion to 2.647 billion XRP — a decline of approximately 56.9 million XRP, or about 2.1 %, in just three days.
In essence, while it took Binance nearly two weeks to add roughly 100 million XRP to its reserves, more than half of that gain vanished in under a week. This indicates that the recent withdrawals occurred far more rapidly than the earlier accumulation.
Large holders frequently transfer tokens off exchanges when they plan to hold them rather than trade them immediately.
If additional XRP continues to leave exchanges for private wallets, the supply available for immediate trading could shrink. This would make XRP more sensitive to fresh buying pressure should demand rise.
XRP Chart Identifies $1.54 as Key Breakout Level
The recent withdrawals coincide with XRP approaching a notable technical level. Analyst Ali Martinez has identified a symmetrical triangle on the hourly chart, with XRP trading in an ever‑narrowing range as buyers and sellers vie for control.
Martinez is monitoring the $1.54 mark for breakout confirmation. He notes that XRP must close an hourly candle above this level before the market can validate a breakout from the triangle.
A confirmed move above $1.54 could trigger a rally of roughly 10 %, according to Martinez’s analysis, placing the potential target near $1.70.