On-chain data reveals a significant and sustained decline in XRP reserves held on the cryptocurrency exchange Binance, reaching their lowest point in over two years. According to analysis from CryptoQuant, Binance's XRP holdings have dropped to approximately 2.5 billion XRP, a level not seen since early 2024. This marks a substantial outflow of roughly 700 million XRP from a peak of over 3.2 billion coins recorded in November 2024.
The 15-month decline is characterized as a structural shift in on-exchange supply dynamics rather than a short-term fluctuation. Analysts interpret the persistent reduction as a sign of accumulation, where investors are moving assets into self-custody or cold storage, indicating longer holding horizons and reduced immediate intent to sell. This tightening of sell-side liquidity on the world's largest exchange creates conditions for a potential "supply shock," where a resurgence in demand could lead to amplified price volatility due to constrained available inventory.
The news coincided with a positive price movement for XRP, which gained over 4.5% in 24 hours to trade near the $1.50 resistance level. This rally was supported by broader market momentum, including Bitcoin trading above $70,000 and over $150 million in crypto short positions being liquidated. Despite the bounce, XRP remains down approximately 35% over the past month.
Institutional interest in XRP continues to grow, with a report from Evernorth noting that Goldman Sachs held $152 million in XRP ETFs as of Q4 2025, representing nearly 14% of net ETF inflows over the past year. Evernorth CEO Asheesh Birla emphasized the company's focus on XRP as infrastructure for real-world financial operations, with plans to deploy its XRP treasury across settlement flows and tokenized assets.
