- Large XRP holders are shifting activity to Binance, with whale outflows now dominating exchange flows.
- Binance is seeing bigger XRP withdrawals as Coinbase records a sharp drop in whale transfers.
- XRP network activity has cooled sharply, while traders watch key support and resistance levels.
Large XRP holders are increasingly using Binance to move funds, while activity among the same group has declined on Coinbase, according to CryptoQuant analyst Amr Taha. The shift points to a growing divergence in XRP trading activity between the two exchanges.
Taha said transactions exceeding 1 million XRP accounted for 52.9% of Binance outflows as of June 9, up from 47% previously. Transfers between 100,000 and 1 million XRP also increased, bringing the share of Binance outflows above 100,000 XRP to nearly 80%.
Coinbase showed the opposite trend. Outflows exceeding 1 million XRP fell from 31% to 10%, while transfers between 10,000 and 100,000 XRP declined from 27% to 16%. According to Taha, the data indicates that large XRP holders remain active but are increasingly concentrating their activity on Binance.
Binance Gains Larger Outflow Dominance
Taha said the divergence is worth watching because outflow patterns can offer insight into where large XRP holders are most active. The increase in large transfers from Binance suggests that major holders continue moving significant amounts of XRP off the exchange.
He cautioned that the data alone does not signal a bullish market. However, Taha said it points to a notable shift in trading activity. If Binance reserves continue to decline while large outflows remain elevated, the trend could indicate a reduction in the amount of XRP available on the exchange.
Related: XRP Price Prediction: Options Volume Explodes 104% as XRP Tests Its Last Weekly Support
Glassnode Sees Capitulation Signals
Glassnode pointed to additional signs of weakening activity in the XRP market. In a post on X, the analytics firm said XRP’s 90-day realized profit-to-loss ratio had fallen to 0.38, indicating that realized losses have recently outweighed realized gains.
Source: X
The firm also reported a sharp decline in network activity. According to Glassnode, fees paid on the XRP network dropped from 5.9k XRP in February to about 0.5k XRP, a decline of 91.5%.
The drop shows a slowdown in transaction activity since the market’s speculative peak, suggesting lower levels of network usage compared with earlier in the year.
Analysts Watch Key Support Levels
Analysts remain divided on XRP’s outlook. BankXRP pointed to open interest falling to levels last seen before the previous bull market and said the trend could indicate that institutional investors are gradually rebuilding positions.
CasiTrades, meanwhile, said XRP has reached a major support zone near $1.09 and now faces resistance around $1.19 and $1.27. The analyst said a failure to move back above those levels could leave the correction in place and increase the risk of a decline toward $0.90.
Related: XRP Derivatives Reset Deepens as Binance Holds Firm
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