- Binance and Upbit XRP reserves fell by 104.7 million across separate time periods.
- Whales accounted for 77% of XRP outflows on a seven-day average, versus 22.8% for retail.
- Binance received 1.6 billion XRP over 30 days, but inflows did not confirm selling.
XRP reserves on Binance and Upbit declined by approximately 104.7 million tokens across separate reporting periods.
CryptoQuant data showed that large transfers dominated exchange withdrawals, even as roughly 1.6 billion XRP entered Binance over 30 days, highlighting the difference between deposit activity and changes in exchange balances.
Binance and Upbit Record Lower XRP Reserves
According to analyst Amr Taha, Binance’s XRP reserves dropped from 2.704 billion to 2.631 billion between September 26 and October 4. That represented a reported reduction of roughly 73.1 million tokens, or 2.7%.
Meanwhile, Upbit’s holdings fell from 6.446 billion to 6.415 billion XRP between September 11 and October 5. Taha put that decline at approximately 31.6 million tokens. Together, the reported reductions totaled 104.7 million XRP, although the measurements covered different dates.
Whale Transfers Account for Most Outflows
Alongside the reserve declines, Binance’s whale outflow dominance reached 84.2% on September 29, matching its August 21 reading. Retail dominance measured 15%.
Across centralized exchanges, whale dominance increased from 78% to 82% between those dates. Retail dominance fell from 21% to 17%.
The seven-day moving average of whale outflow dominance was near 77%, compared with approximately 22.8% for retail participants.
Although large transfers retained the greater share, their dominance had eased from a recent peak above 80%.
Binance Inflows Add Another Layer to Exchange Activity
Separately, analyst PelinayPA reported approximately 1.6 billion XRP in Binance inflows over 30 days, the highest reading since March. However, the data did not establish that depositors had sold their XRP.
The combination of rising inflows and falling reserves creates a mixed picture of exchange activity. Large XRP deposits can increase the amount available for potential selling, but the decline in exchange reserves shows that withdrawals have also been significant. As a result, the 1.6 billion XRP inflow figure alone cannot be treated as evidence of rising selling pressure.
XRP exchange data currently points to elevated whale activity rather than a clear selling signal. Falling reserves on Binance and Upbit suggest significant withdrawals, while the large Binance inflows show that substantial XRP is also moving onto exchanges. Until these flows are confirmed by reserve changes and price action, the data supports caution rather than a definitive bearish outlook.
Related: XRP Futures Fall to $897M as Binance Leads Other Exchanges
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