- Vincent Van Code warned that only about 4 million XRP remain on Binance’s order book, signaling dangerously thin market liquidity.
- Institutions typically buy through OTC channels, but Van Code said these reserves are now depleted.
- With automated bots quietly accumulating XRP, Van Code suggested a looming liquidity shock could force big buyers onto exchanges.
Software engineer and crypto investor Vincent Van Code has drawn attention to a growing liquidity crunch in the XRP market, noting that only around 4 million XRP remain on Binance’s order book.
According to his analysis, this represents a dangerously thin layer of available liquidity, with potential for rapid price movement if large buyers enter the market.
Whales Turn to OTC Markets — But Supply Is Drying Up
Van Code explained that institutional and high-net-worth buyers typically avoid purchasing XRP directly from exchanges to prevent order book slippage and price spikes. Instead, they rely on over-the-counter (OTC) and wholesale channels to acquire large volumes quietly.
Also Read: Big News: Popular Trader James Wynn Makes Significant XRP Investment – XRP Army Reacts
On Binance there is only about 4M XRP on the order book. If you want to buy 10M XRP, you will start at 2.6 and end at $15.
Big buyers use OTC and wholesale to buy XRP to avoid order book drains and price spikes.
What is happening now, is the supply on OTC and wholesale are…
— Vincent Van Code (@vincent_vancode) October 26, 2025
However, he warned that these off-exchange sources are now running dry, suggesting that major holders are opting to retain XRP rather than sell. “Everyone is holding,” he wrote, describing a tightening market dynamic that could foreshadow significant volatility.
Potential Market Impact and Bot Activity
Despite the shrinking supply, Van Code observed that some algorithmic bots are still managing to purchase XRP from the open market without triggering large price increases, indicating that automated accumulation strategies may be at play.
He emphasized that if OTC reserves continue to diminish, liquidity shocks could force large buyers back into public exchanges, a scenario that could send XRP’s price surging.
“It will be interesting to see what happens next,” Van Code concluded, hinting that the current quiet phase may precede a major market shift as institutional accumulation pressures collide with dwindling supply.
Also Read: ChartNerd Analysis: XRP Supply Shock to Trigger $13-$27 Rally
