XRP Whale Activity Surges on Major Exchanges

XRP transfers worth over 1 million tokens are increasingly dominating outflows from major exchanges Binance and Coinbase. On both platforms, this category of transactions accounted for a growing share of daily withdrawal value in recent weeks.

According to CryptoQuant's XRP Exchange Daily Outflow by Value Bands indicator, large XRP holders now make up the largest portion of withdrawals on these exchanges. The data shows that as the number of small and medium-sized transfers decreased, the number of transactions involving over 1 million tokens increased.

On Binance, the share of transfers above 1 million XRP rose from roughly 45% on August 13 to 60.8% on September 30. Meanwhile, on Coinbase, this category accounted for 48.7% of daily outflow value on the same day, up from around 37% in early August.

The trend continued into October, with a recent report from The Crypto Basic indicating that large holders withdrew approximately 301 million XRP from Binance and Coinbase combined on October 1. This included over 151 million XRP withdrawn from Binance alone.