XRP holders have rapidly withdrawn their tokens from centralized exchanges in recent weeks, pushing exchange supply metrics to multi-month lows across multiple platforms. Data from CryptoQuant shows that Coinbase recorded its most negative seven-day net deposit/withdrawal transaction count in roughly five months, plunging to approximately -13,000 on July 15, surpassing the previous -12,300 low set in February. Binance similarly saw its metric fall to around -5,600, matching levels from February, while Bybit experienced the most dramatic swing, moving from +27,000 on June 7 to -220 by July 15.
Simultaneously, Binance’s on-chain reserve of XRP fell to approximately 2.61 billion tokens, the lowest level since February. Exchange balances have steadily declined from over 3 billion XRP in the second half of 2025, with about 400 million fewer XRP now held on the platform. Despite these supply constraints, XRP’s price remained near $1.10, demonstrating that lower exchange reserves alone do not guarantee price appreciation without stronger demand, as noted by CryptoQuant analyst Amr Taha.
Taha emphasized that the metric tracks transaction counts rather than the value of XRP transferred, meaning it reflects user behavior changes rather than confirming specific fund amounts. The data suggests a broader shift toward self-custody or holding in private wallets, which could reduce immediate selling pressure if reserves continue to tighten.
