XRP’s available supply on Binance continues to shrink at a striking pace, with nearly 89 million tokens leaving the exchange in a single day, according to analyst Diana. This latest outflow pulled Binance’s XRP reserves down to approximately 2.68 billion tokens, deepening a multi‑month trend of declining exchange balances. Data from CryptoQuant reveals an even larger whale accumulation window: between June 3 and 11, large wallets withdrew roughly 465 million XRP—valued at around $530 million—from Binance.
The withdrawal wave marks a sharp reversal from the preceding 30 days, when whales deposited 1.33 billion XRP into the exchange, a pattern historically linked to heightened selling pressure. Now, by moving assets off the platform, large holders appear to be signaling long-term accumulation, a dynamic often viewed as bullish because it reduces the tokens readily available for trading.
However, futures markets tell a different story. Funding rates on perpetual XRP contracts have turned deeply negative, hitting -0.012. Negative funding rates mean short sellers are paying fees to maintain their positions, reflecting strong expectations of lower prices. This creates a sharp divergence: spot market behavior points to supply scarcity, while derivatives traders are placing their most bearish bets in months.
Despite the bearish positioning, technical analysts observe a potential double‑bottom pattern on the monthly XRP/USD chart, often a precursor to upward reversals after sustained corrections. XRP has shed nearly 22% over the past 30 days, trading at $1.15 as of June 12. Some models project a further 2.92% average decline, targeting $1.11 by June 19. The shrinking Binance reserves could cushion further drops, but if whale deposits resume and selling pressure mounts, a break below the psychologically vital $1 level remains a risk.
