XRP withdrawal transactions on Binance jumped to 54.5% this week, the highest share since 2024, echoing the exact setup seen before last summer’s 66% rally.
Something shifted quietly on Binance this week. Traders pulling XRP off the exchange now outnumber the ones sending it in by the widest margin since the summer of 2024, and somehow the token barely blinked.
On July 17, Binance’s share of XRP withdrawal transactions climbed to 54.5%, the highest reading in roughly two years. That edges past the previous high of 53.2% set on June 20, 2025, according to a CryptoQuant quicktake published by contributor Amr Taha.
Deposits Tell the Opposite Story
Binance’s XRP deposit transactions slid to 45.4%, below the prior low of 46.7% recorded during that same stretch last June. Put the two numbers together and the withdrawal-deposit gap now sits at 9.1 percentage points, versus 6.5 points a year earlier, roughly 40% wider by CryptoQuant’s math.
The pattern isn’t confined to one exchange either. All-CEX withdrawal transactions reached 53.01%, nearly matching the 53.09% mark from June 2025, while deposit share across centralized exchanges broadly returned to somewhere near 46.9%.
Binance’s own withdrawal share now runs about 1.49 percentage points above the all-exchange average. Its 9.1-point gap between withdrawals and deposits comes in almost 49% wider than the roughly 6.1-point spread across CEXs generally. Binance, in other words, is leading the shift rather than just following it.
XRP daily deposit/withdrawal transaction share on Binance and across all centralized exchanges. Source: CryptoQuant / Amr Taha — view quicktake
The Setup That Preceded a 66% Rally
Here’s the part traders keep bringing up. After a similar imbalance showed up on June 20, 2025, XRP climbed from around $2.11 to $3.50 by July 21 that year, nearly 66% in about a month.
XRP isn’t anywhere near that price now.
The token trades near $1.09 today, something like 48% below where it sat at the June 2025 comparison point, and close to 69% under the $3.50 peak that followed it. Same transaction pattern, a very different price backdrop.
Why the Comparison Isn’t a Guarantee
CryptoQuant’s own note on the data comes with a catch worth repeating. These percentages track the number of deposit and withdrawal transactions, not the volume moved or net exchange flows, so what shows up is a shift in transaction composition, not proof that capital is leaving exchanges outright. None of this is financial advice, either way.
Binance’s XRP order book has told a messier story in recent days too. A CryptoQuant dataset covered on Live Bitcoin News flagged persistent selling pressure on the pair less than a week earlier, numbers pointing the opposite direction from this week’s withdrawal spike.
Separate reserve data out of the same exchange has swung between bullish and bearish reads more than once already this cycle. Binance’s order flow, for now, is the one saying withdrawals are winning.
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