Persistent deposit-side activity is often viewed as a sign of possible selling pressure because assets transferred onto exchanges are generally more accessible for trading or liquidation. This indicates that the pressure has now eased, at least based on transaction count data.

While Bybit’s earlier deposit imbalance appears to have faded, Binance and Coinbase are now showing the opposite trend, as withdrawal transactions overtook deposits on both exchanges. This is a major change from the earlier exchange-flow structure dominated by Bybit deposits.

The setup for XRP has therefore changed, as the market is no longer displaying the same broader exchange-deposit activity seen over the past month. Instead, exchange behavior now points to a rotation in flows, as Bybit cools off while Binance and Coinbase experience stronger withdrawal-side activity.#XRPRealityCheck $XRP $USDC