XRP Transfers Over 1 Million Tokens Dominate Binance and Coinbase Outflows
The trend of large XRP transfers leaving major exchanges has been on the rise, with recent data showing that transfers involving more than 1 million tokens now make up the largest share of daily outflow value on both Binance and Coinbase.
According to data provided by CryptoQuant, large XRP transfers dominated Binance and Coinbase outflows in September, with a significant increase in transfers above 1 million XRP. On Binance, these transfers accounted for 60.8% of daily outflow value on September 30, compared to 45% on August 13. On Coinbase, the figure was even higher, with 48.7% of daily outflow value consisting of transfers above 1 million XRP on September 30.
The trend continued into October, with large XRP holders withdrawing approximately 301 million XRP from Binance, Coinbase, Bybit, and Bitget combined on October 1. The following day, daily transfers above 1 million XRP across exchanges climbed past 320 million XRP, marking one of the largest single-day spikes in recent data.