XRP may be losing steam on the price chart, but investors appear to be doing the opposite.
Notably, the token has fallen nearly 2% over the past week, according to CoinMarketCap data, and traded mostly sideways on Monday, yet a major drop in Binance’s XRP reserves suggests some holders are quietly moving their coins off the exchange.
According to analyst Darkfost, Binance’s average XRP reserves have dropped to levels not seen since February 2024.
The analyst shared data from Cryptoquant, showing that the exchange held an average of roughly 3.1 billion XRP in November 2025. That figure has since fallen to around 2.6 billion, representing a decline of approximately 500 million tokens in less than a year.
The reduction comes despite XRP ending August with a gain of nearly 30%. The token, however, remains well below its all-time high of $3.84 and is currently trading around $1.38.
 
The analyst suggested that the persistent decline in Binance’s XRP reserves could point to long-term accumulation, as investors may be moving their holdings into private wallets rather than keeping them available on exchanges.
Additionally, the launch of spot XRP ETFs in late 2025 may have contributed to the decline, as demand from the funds could have led to more XRP being purchased from the market. He also noted that some of the movements could simply reflect Binance adjusting its reserves based on customer activity.
The drop in Binance’s XRP reserves could also mean less XRP is available to sell on the exchange. However, outflows do not always mean the price will rise, as investors may move their coins for different reasons.
Notably, analyst Ali Martinez recently highlighted the $1.31-$1.38 region as an important XRP support zone, noting that more than 4.8 billion XRP were previously acquired around this area. Holding the zone could therefore become important if the ongoing market correction continues.
ETF demand has provided another source of support. Spot XRP ETFs reportedly attracted more than $105 million in purchases last week, indicating that institutional demand has remained active even as the token struggles to regain stronger upward momentum.
Meanwhile, analyst CW said XRP’s accumulation score stands at 90, suggesting that buying activity remains concentrated around the current trading range.
At press time, XRP was trading at $1.38, reflecting a 1.38% gain over the past 24 hours.
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