XRP holders are pulling coins off exchanges faster than they deposit them, tightening the tradable supply. Spot demand stays too weak to confirm a sustained recovery, though whale accumulation keeps the outlook constructive.
XRP wallet activity has swung toward withdrawals, and the shrinking exchange supply is easing sell-side pressure. But the move alone is unlikely to sustain XRP's recovery until spot buying strengthens.
Over the past week, withdrawals outpaced deposits across major platforms, cutting the total number of wallets by roughly 13,026. Coinbase drove the largest share at -8,900, followed by Binance at -2,626 and Crypto.com at -1,500. The pattern suggests investors increasingly prefer self-custody over centralized exchanges.
Timing matters here. Large deposit increases in July and again in October 2025 each preceded declines of more than 65% in Ripple's price. The reverse flow now points the other way: XRP traded at $1.14, a sign of easing seller pressure.
Spot demand hasn't confirmed the move
Despite the outflows, broader markets lack convincing evidence of sustained spot accumulation. Binance's balance stood at 2.6 billion XRP, declining steadily from above 3.1 billion.
That trend reduces the immediate supply of sellers, yet buyers have not stepped in with force. Transfers bound for exchanges dropped to roughly 140 XRP after major spikes earlier this year, and large deposit bands have muted. However, the 90-day Spot Taker CVD returned to neutral after briefly turning buyer dominant in May, so aggressive spot buyers have not regained control.
Whales keep accumulating
Broader positioning offers a more constructive read. AMBCrypto reported that large holders kept accumulating during recent exchange outflows, while long-term holders stayed profitable without accelerating distribution.
Derivatives positioning also holds steady. Open Interest sits at $2.5 billion, with funding rates fluctuating between neutral and mildly positive.
Source: AMBCrypto
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