XRP whales have significantly increased their share of exchange outflows, according to data from CryptoQuant. On Binance, whale-sized transfers accounted for 84.2% of total XRP outflows on September 29, matching the level recorded on August 21, while individual investors made up just 15%.
Across centralized exchanges, the whale share of outflows rose from 78% on August 21 to 82% by September 29. Individual investor share declined from 21% to 17%, widening the gap between whale and retail outflows from 57 to 65 percentage points.
The outflow trend was reflected in exchange reserves. Binance’s XRP reserves fell from 2.70 billion XRP to 2.63 billion XRP between September 26 and October 4, a withdrawal of roughly 73.1 million XRP, or about 2.7% of total reserves.
At Upbit, XRP reserves decreased from 6.44 billion XRP to 6.41 billion XRP between September 11 and October 5, a decline of approximately 31.6 million XRP. Combined, about 104.7 million XRP left Binance and Upbit reserves during the tracked periods.
CryptoQuant noted that rising whale-led outflows and falling exchange reserves could indicate a decrease in available XRP supply for sale on exchanges.
