In Brief:
- XRP withdrawal transactions reached 56.85% on Binance, creating a 13.73-percentage-point gap over deposits and withdrawal levels unseen since 2019.
- Withdrawal dominance extended across centralized exchanges, where withdrawals reached 54.9%, indicating the transaction pattern was not limited to Binance alone.
- The data measures transaction counts rather than XRP volumes, meaning withdrawal dominance cannot independently confirm net exchange outflows or investor accumulation.
XRP exchange activity has recorded a notable change, with withdrawal transactions reaching their highest share since 2019. Binance and other centralized exchanges are showing withdrawals taking a larger share of transactions than deposits.
Recent data show that Binance withdrawal transactions reached 56.85% on August 14, while deposit transactions fell to 43.12%. Consequently, withdrawals exceeded deposits by 13.73 percentage points on Binance, representing a considerable imbalance between the two transaction categories.
Moreover, the pattern extends beyond Binance, as all CEX withdrawal transactions reached 54.9%, compared with 45% for deposits. The 9.9 percentage-point gap across centralized exchanges supports a bullish assessment, with withdrawal shares reaching levels unseen since 2019.
XRP Withdrawal Activity Reaches Multi-Year Extreme
CryptoQuant data calculates the indicator using a seven-day measurement, reducing isolated daily movements and reflecting a sustained change in XRP exchange transaction behavior. Significantly, Binance and the combined CEX market are displaying similar movements, indicating that withdrawal dominance extends beyond one trading platform.
Meanwhile, deposit transaction shares have reached their lowest levels since 2019, with Binance at 43.12% and all CEX deposits at 45%. XRP traded near $1.01 around the latest point displayed on the chart, while withdrawal transaction shares increased despite weakness in XRP’s price.
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Source: CryptoQuant
Additionally, Binance recorded a wider withdrawal-deposit difference than the combined CEX market, making its activity particularly notable within the broader shift.
Transaction Counts Do Not Confirm XRP Net Outflows
Despite the historical readings, CryptoQuant’s indicator does not confirm that larger XRP amounts are leaving exchanges. The metric measures transaction counts rather than transferred XRP volume.
Hence, numerous smaller withdrawals could outnumber fewer deposits containing larger XRP amounts, meaning withdrawal dominance alone cannot establish net exchange outflows or accumulation.
Nevertheless, withdrawal activity shows how XRP holders interact with centralized exchanges, as investors commonly withdraw cryptocurrencies when moving holdings toward private wallets. Moreover, falling deposit shares show fewer individual XRP transactions reaching exchanges relative to withdrawals, although deposits do not necessarily represent selling activity.
Exchange reserves, netflow volumes, and transfer sizes could provide stronger confirmation about the scale of XRP leaving trading platforms. Overall, the notable development centers on withdrawal transactions dominating XRP exchange activity at proportions unseen since 2019.
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