XRP Transfers Soar Above 1M Tokens on Binance and Coinbase

XRP transfers above 1 million tokens now make up the largest share of daily outflow value on both Binance and Coinbase, according to data from CryptoQuant. This trend indicates that larger XRP holders are increasingly withdrawing their tokens from these major exchanges.

On Binance, transfers above 1 million XRP accounted for 60.8% of daily outflow value on September 30, a significant increase from around 45% on August 13. This marks a return to the 60% range last seen in late August. Meanwhile, the 100K-1M XRP category saw a decline in its share, dropping from 30% on September 6 to 23.4% by September 30.

Coinbase experienced an even more pronounced change, with transfers above 1 million XRP accounting for 48.7% of daily outflow value on September 30, up from around 37% on August 27. This represents a nearly 19 percentage point increase from the 30% recorded on July 6. The 100K-1M XRP category on Coinbase also saw a significant drop, falling from 67% on September 19 to 37% by the end of the month.

This trend is notable because it appears on both Binance and Coinbase simultaneously, suggesting a broader change in the size of XRP transfers leaving major platforms. The pattern continued into October, with large holders withdrawing approximately 301 million XRP from Binance, Coinbase, Bybit, and Bitget combined on October 1. This marked one of the largest single-day spikes in recent data, with daily transfers above 1 million XRP climbing past 320 million XRP on October 2.