Key Points
- XRP Monthly exchange deposit volume reached 6.05 billion coins
- Binance received 2.46 billion XRP during this period.
- Whale withdrawals drop to a 5-year low, while demand for ETF weakens
Within 30 days as of October 19th, the volume of XRP flowing into exchanges reached 6.05 billion coins, setting a new high for the past 7 months; at the same time, another indicator measuring the activity of large investors in Binance dropped to its lowest level in 5 years.
According to analyst Arab Chain from CryptoQuant, the scale of deposits on exchanges has doubled since mid-August. When XRP fell by 12.5% in October, bringing the price close to $1.30, Binance accounted for approximately 2.46 billion of these coins, which is 40.7% of the total.
These data indicate that during periods of weakening market demand, more XRP is flowing into trading platforms. However, based solely on the amount deposited, it is not possible to prove that investors have sold their positions.
XRP Exchange inflows rise to a 7-month high, reaching 6.05 billion coins
Upbit recorded an inflow of an additional 544.48 million XRP, while Bitget received 284.52 million. These exchanges collectively accounted for the majority of the relevant activities mentioned in the report.
This growth continues the previous trend of a surge in inflows of Binance. In another set of 30-day statistics, large investors deposited a total of 1.669 billion XRP into Binance.
However, the total inflow to an exchange does not equate to the net change in the exchange's reserves. Tokens may be transferred between exchanges, custodial wallets, and market makers without immediately creating selling pressure.
The previous increase in exchange balances showed that the tracked wallet added nearly 84 million XRP coins within 3 days. This also highlights the need to observe not only transaction volumes but also changes in actual reserves.
Whale withdrawals drop to a five-year low Binance
Another analysis by analyst Darkfost from CryptoQuant shows that the 90-day moving average of whale withdrawals has dropped to approximately $49.7 million, the lowest level since October 2021.
This indicator previously reached around $3.5 billion in February 2025, indicating that the withdrawal activities of large holders have significantly diminished.
A decrease in withdrawals may indicate a reduction in buying activities, but it does not necessarily prove that whales have started selling. Transfers into or out of exchanges can also reflect custody arrangements, trading strategies, or portfolio rebalancing.
Participation in the derivatives market has also weakened. The number of open futures contracts of XRP related to Binance has recently decreased by 85.1 million US dollars, following the liquidation of approximately 25.7 million US dollars in long positions earlier on.
XRP ETF demand slows down along with exchange activities
Institutional investment capital flows also provide another signal of changes in market conditions.
It is reported that the US spot XRP ETF experienced a net outflow of $1.84 million in a single week, ending a streak of 13 consecutive weeks of net inflows. The net inflow in October was approximately $10.25 million, while in September it was $121.4 million.
This reversal occurred after a period of time during which the demand for ETF persisted. At that time, despite the decline in the price of XRP, related funds still attracted new capital.
Coinpaper Previous reports indicated that despite a cumulative investment of nearly $1.8 billion, the inflow of funds into ETF has begun to slow down.
Marcus Hale
Marcus Hale is a journalist specializing in the crypto and financial markets, covering topics such as Bitcoin, Ethereum, digital assets, regulation, ETF, and the adoption by institutions. His writing focuses on market-moving dynamics, investor trends, and the broader forces that shape the crypto economy.
