What to know:
- Bybit XRP deposit pressure weakens as Binance and Coinbase withdrawals increase significantly.
- CryptoQuant analyst Amr Taha highlights a major XRP exchange behavior rotation.
- Transaction delta data showed reduced selling pressure across major XRP exchanges
CryptoQuant analyst Amr Taha revealed a major change in XRP exchange activity involving Bybit, Binance, and Coinbase. His analysis showed that Bybit’s prolonged XRP deposit imbalance has weakened significantly, while Binance and Coinbase shifted toward stronger withdrawal activity during recent trading sessions.
According to Taha, the latest transaction-delta data pointed to a notable rotation in XRP exchange behavior after weeks of persistent deposit-side pressure dominated the market. The shift became visible around May 16 when Bybit’s elevated deposit readings cooled considerably, even as withdrawal transactions started outweighing deposits on both Binance and Coinbase.
XRP Exchange Structure Changes Across Major Platforms
The CryptoQuant chart tracking XRP Multi-Exchange Daily Depositing and Withdrawing Transactions Delta showed Bybit maintaining strong positive readings throughout most of April and early May. During that period, deposit transactions consistently exceeded withdrawals, creating concerns that traders were positioning XRP for possible selling activity.
Exchange deposits often attract attention because traders usually move assets onto trading platforms before executing trades or taking profits. Consequently, sustained deposit-side activity may increase short-term market pressure when it continues over extended periods.
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Bybit dominated the exchange-flow structure during the month-long period. Large positive transaction bars linked to the exchange repeatedly appeared across the chart, especially between early and mid-May. However, XRP price action remained relatively stable despite the persistent deposit imbalance.
Binance and Coinbase Move Toward Withdrawal Activity
According to Taha, the structure started changing around May 16 when Bybit’s transaction delta returned close to neutral territory. That movement suggested the earlier deposit imbalance faded significantly after dominating XRP exchange activity for several weeks.
At the same time, Binance and Coinbase both moved into negative transaction territory. Withdrawal transactions started exceeding deposits on both exchanges, creating a different flow structure compared with the earlier Bybit-led deposit phase.
Source: CryptoQuant
Withdrawal-heavy exchange activity often signals that traders are transferring assets into private wallets or long-term storage rather than preparing immediate sales. Therefore, the latest shift reduced concerns surrounding broad exchange-related selling pressure across the XRP market.
Transaction Delta Data Still Carries Limitations
Additionally, Taha clarified that the metric tracks transaction-count delta rather than total XRP volume. The data does not confirm the exact amount of XRP entering or leaving exchanges. Still, the directional change remains important because it highlights a broader shift in exchange behavior across several leading crypto trading platforms.
XRP exchange-flow conditions now look considerably different from the structure recorded throughout most of April and early May. Although the metric does not track exact XRP volume, the latest data suggests exchange-related selling pressure across major platforms has cooled significantly.
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