XRP users are increasingly moving tokens away from major cryptocurrency exchanges.
On-chain data shows that withdrawals are now exceeding deposits across Coinbase, Binance, and Bybit.
According to CryptoQuant analyst Amr Taha, Coinbase recorded its strongest withdrawal-heavy seven-day period in about five months. Binance also returned to levels last seen in February.
The shift points to a change in exchange-user behavior, although XRP’s price has remained mostly stable.
Coinbase Sees Strongest Withdrawal Trend Since February
Taha said Coinbase’s seven-day net deposit/withdrawal transaction count fell to around -13,000 on July 15. This marked the exchange’s most negative reading since mid-February.
The latest figure was lower than the approximately -12,300 recorded on Feb. 14. That represents a decline of about 700 transactions, or 5.7%, showing a wider gap between withdrawals and deposits than seen in recent months.
The report added that Coinbase’s current negative reading is about 2.3 times larger than Binance’s. This makes Coinbase the exchange with the strongest withdrawal bias among the three platforms.
Binance Returns to February Levels as Bybit Undergoes Major Shift
Binance also saw a significant drop in net transaction activity. Its seven-day reading declined to roughly -5,600 transactions, a level close to what was recorded on Feb. 11.
Bybit experienced the biggest change in trend. Its seven-day metric fell from around +27,000 transactions on June 7 to approximately -220 by July 15. That represents a swing of about 27,220 transactions in 38 days.
However, Taha noted that Bybit’s latest reading remains near neutral. This suggests that the exchange’s earlier deposit-heavy activity has faded rather than shifted into unusually strong withdrawal demand.
Exchange Flows Change While XRP Price Remains Stable
With Coinbase, Binance, and Bybit all showing negative seven-day readings at the same time, Taha said the data points to a move toward withdrawal-heavy XRP activity across exchanges.
Despite the change in exchange flows, XRP continued trading near $1.10. This suggests that the rise in withdrawals has not yet led to immediate price gains.
The pundit also clarified that the metric tracks the number of deposit and withdrawal transactions, not the amount of XRP transferred or its dollar value.
As a result, the data shows changes in exchange-user behavior but does not reveal the size of the holdings moved or where the withdrawn XRP was ultimately sent.
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