XRP withdrawals from Binance have surged this week, reaching their largest share of transaction activity since 2024. According to research from CryptoQuant contributor Amr Taha, XRP withdrawal transactions on Binance climbed to 54.5% on July 17, outpacing deposit transactions by the widest gap seen in nearly two years.
Deposit transactions hit new lows
Meanwhile, XRP deposit transactions on Binance fell to 45.4%, marking a new low compared to the previous record of 46.7% recorded in June 2025. This widened the gap between withdrawals and deposits to 9.1 percentage points, up from 6.5 points a year prior. CryptoQuant calculated this increase as roughly 40% wider than the previous year’s gap.
The shift in transaction dynamics is not unique to Binance. Across all centralized exchanges, XRP withdrawal transactions reached 53.01%, nearly equaling the 53.09% seen in June 2025. Deposit activity across these platforms generally hovered near 46.9%, reflecting a similar imbalance to Binance’s trend.
Binance’s specific numbers stand out, with its withdrawal share running around 1.49 percentage points above the all-exchange average. The exchange’s 9.1-point withdrawal-deposit gap is nearly 49% wider than the 6.1-point spread observed on centralized exchanges overall, positioning Binance as a leader in this shift.
| Exchange | Withdrawal Share (%) | Deposit Share (%) | Withdrawal-Deposit Gap (%) |
|---|---|---|---|
| Binance | 54.5 | 45.4 | 9.1 |
| All Centralized Exchanges | 53.01 | 46.9 | 6.1 |
Mini dictionary: Binance is one of the world’s largest cryptocurrency exchanges by trading volume, enabling users to buy, sell, and store a wide range of digital assets globally.
Historical context and the 66% rally
The transaction pattern is reminiscent of the situation in June 2025, when a similar withdrawal surge preceded a significant price rally in XRP. At that time, the token climbed from around $2.11 to $3.50 by July 21, representing an increase of nearly 66% within one month.
XRP’s previous rally followed a comparable transaction imbalance, but the current price environment differs sharply from last year. The token now trades near $1.09, about 48% below its June 2025 level and roughly 69% less than the $3.50 peak seen after the withdrawal surge.
Limitations and other market signals
Despite the parallels, analysts caution against reading too much into the current data. CryptoQuant highlighted that these metrics reflect the number of deposit and withdrawal transactions rather than representing the total volume or net flow of funds. As a result, this data shows a shift in transaction composition rather than providing evidence of capital outflows from exchanges.
Recent order book data from CryptoQuant, referenced by Live Bitcoin News, indicated persistent selling pressure in XRP/Binance trading pairs last week, an apparent contrast to the surge in withdrawal activity observed now.
Additional reserve figures from Binance have also alternated between bullish and bearish signals throughout the current cycle. For the moment, withdrawal activity appears to outpace deposits, but broader order flow and reserve data present a more mixed picture regarding market sentiment.
CryptoQuant emphasized that while withdrawal transaction counts are high, they are not direct proof that large amounts of capital are leaving exchanges or that a price rally is imminent.
