XRP withdrawal transactions on Binance overtook deposits for several days, while similar shifts were observed across other crypto exchanges, including Coinbase and Bybit. The shift occurred as XRP traded near recent lows, pointing to a change in exchange behavior amid price pressure.
Key Takeaways:
Withdrawals made up 53.8% of Binance XRP transaction activity, while Coinbase also showed a deeper negative net transaction reading.Deposit activity fell to 46.1%, suggesting fewer transactions moving XRP onto Binance by transaction count.Continued withdrawal dominance across exchanges may signal changing behavior, though volume data is still needed.The analyst noted:
XRP Transaction Shift Highlights Rising Withdrawal ActivityThe analyst cautioned:
“A higher withdrawal share indicates that withdrawal transactions are outnumbering deposit transactions on Binance, but it should not be treated alone as a direct buy-or-sell signal.”
