Binance Loses Over Half a Billion Dollars' Worth of XRP Amid Token's Bear Market
Ripple Labs' monthly unlocks of XRP have led to an increase in the circulating supply of the token, but its presence on Binance has decreased significantly over the past nine months. According to data from CryptoQuant, the total amount of XRP held in Binance's exchange wallets has dropped by more than 550 million.
This decline accounts for a 17.4% decrease in Binance's supply of XRP and coincides with the token's bear market performance in 2026. The price of XRP has fallen by 27.68% year-to-date, trading at $1.33 as of the time of reporting.
However, despite short-term price weakness, the token's supply on Binance continues to decline, signaling a potential shift towards cold storage and long-term accumulation. The increased demand for XRP from spot ETFs may also contribute to its bullish momentum, with the token up 27.74% in 30 days.