$XRP $XPL $XLM A significant amount of XRP has been withdrawn from two of the world's largest cryptocurrency exchanges, Binance and Upbit, with on-chain data showing that exchange reserves have dropped to their lowest levels in several months.
Binance Sees Over 170 Million XRP Leave
Binance recorded the largest decline in reserves during the period. XRP holdings on the exchange fell from approximately 2.78 billion XRP on May 12 to around 2.61 billion XRP by July 2.
That represents a reduction of roughly 170 million XRP, or more than 6%, bringing Binance's XRP reserves to their lowest level since March 2026.
Upbit Also Records Reserve Decline
South Korea's largest exchange, Upbit, also experienced a notable decrease in XRP reserves.
Its balance dropped from approximately 6.515 billion XRP on May 30 to about 6.457 billion XRP on July 2, a decline of nearly 58 million XRP. Although the percentage decrease is smaller than Binance's, Upbit still holds the largest tracked XRP reserve, making even relatively small changes important for overall market liquidity.
This is also Upbit's lowest XRP reserve level since April 2026.
Combined Outflows Reach 228 Million XRP
Together, Binance and Upbit have seen approximately 228 million XRP removed from their exchange balances over the past several weeks.
The decline suggests that a substantial amount of XRP has left exchange wallets, reducing the immediately available supply on these platforms.
Not a Market-Wide Trend
Interestingly, the reduction has not been consistent across all exchanges.
Bithumb, another major South Korean exchange, has maintained relatively stable XRP reserves at around 1.84 billion XRP throughout the same period. This indicates that the outflows are concentrated on specific exchanges rather than reflecting a broad market-wide withdrawal trend.
What Does It Mean?
Falling exchange reserves are often viewed as a positive on-chain signal because they can indicate that investors are moving assets into private wallets for long-term holding instead of keeping them on exchanges for immediate selling.
However, reserve declines alone do not confirm accumulation or guarantee a bullish price move. XRP transferred off exchanges could also be moving between platforms, entering custodial services, or being used for other purposes.
The real impact will depend on whether these lower exchange balances are followed by strong spot-market demand, increasing buying pressure, and tighter liquidity. If demand continues to grow while exchange supply remains limited, it could create a more favorable environment for XRP's price in the coming weeks.
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