XRP Exchanges Drain 240 Million Tokens Amid Struggling Price

The price of XRP has struggled to reach $1 in recent weeks, but even more significant is the movement of the asset itself. According to CryptoQuant analysis, a total of 240 million XRP have been withdrawn from major exchanges since early summer.

This includes Binance, which saw its reserves drop by approximately 100 million tokens or 3.7%, from 2.72 billion to 2.62 billion over the same period. Upbit and Bithumb continue to hold the bulk of tracked XRP supply, with a combined total of about 8.22 billion, accounting for nearly 76% of reserves across the three platforms.

The decline in exchange reserves comes as wallet activity on major exchanges turns more focused on withdrawals. Coinbase posted a net wallet count of -14,300, while Binance and Crypto.com also saw negative balances. Meanwhile, large transactions worth over $1 million jumped 280% in one day, reaching nearly 40 compared to the previous two days.