More than 550 million XRP have left Binance since late 2025, pushing the exchange’s average reserve to its lowest level since February 2024 as XRP demand remains strong.
XRP$1.40-1.63%More than 550 million XRP have left Binance pushing the exchange’s average XRP reserves to their lowest level since February 2024.
CryptoQuant data shows that Binance’s 30-day average XRP balance has fallen from approximately 3.17 billion XRP in November 2025 to 2.61 billion XRP on September 1, 2026. That represents a decline of about 551 million XRP, or 17.4%, in less than a year.
The decline is notable because XRP has gone through a highly volatile period during the same timeframe. The token fell significantly from its previous all-time high of around $3.66, yet the amount of XRP held on Binance continued to trend lower.
At the same time, XRP ended August with a gain of nearly 30%, suggesting that demand has remained strong despite large price swings.
The falling Binance reserve does not prove that every withdrawn token is being accumulated for the long term. However, it does reduce the amount of XRP sitting on the exchange and immediately available for trading.
CryptoQuant analyst Darkfost highlighted the change in Binance’s XRP reserves as the monthly average reached a level not seen since early 2024.
The 30-day average stood at roughly 3.16 billion XRP in November 2025. By September 1, that figure had fallen to approximately 2.61 billion XRP.
That means more than half a billion XRP have effectively disappeared from Binance’s exchange reserve metric over the period.
The decline is especially interesting because XRP's price did not move in a straight line during this period. The token experienced a substantial correction from its $3.66 peak before recovering sharply in August.
This suggests that the reduction in Binance reserves has continued through both stronger and weaker phases of the XRP market.
Exchange reserves are closely watched because they provide an indication of how much of an asset is sitting on centralized platforms where it can be traded relatively quickly.
When XRP moves from an exchange to private wallets or other forms of custody, that supply is generally less immediately available for selling on the exchange.
If the trend continues while demand remains stable or increases, the reduction in readily available exchange supply could help reduce sell-side liquidity.
However, falling exchange reserves should not automatically be interpreted as proof of bullish price action.
Tokens can leave Binance for several reasons, including transfers to private wallets, movement between custodians or exchanges, institutional transactions and internal wallet management. CryptoQuant's reserve data therefore shows a change in exchange- supply, not the exact reason behind every withdrawal.
That distinction is important when interpreting the current XRP supply trend.
The Binance reserve decline comes after a particularly strong month for XRP.
XRP gained almost 30% during August, recovering sharply from the weakness seen earlier in the year. The rally pushed the token significantly higher, although it remains well below its previous record price.
Despite the recovery, the amount of XRP held on Binance continued to fall.
That divergence has attracted attention because it suggests that the recent XRP rally has not resulted in a corresponding increase in exchange held supply.
Historically, traders may move assets onto exchanges when they intend to sell or trade them. Conversely, withdrawals can occur when holders want to retain their assets away from centralized trading venues.
The current data therefore points toward a tightening of Binance's XRP balance even as the market has become more active.
Another factor worth watching is institutional demand for XRP.
Spot XRP ETFs began launching in late 2025, creating another source of potential demand for the underlying asset. Analysts have suggested that ETF-related buying may have contributed to the decline in exchange reserves, particularly because the timing of the reserve decline overlaps with the launch period.
This comes as institutional interest in XRP has become more visible.
Related: Goldman Sachs disclosed $86.5 million in exposure across five XRP ETFs
That institutional demand creates an important backdrop for the Binance reserve data. If XRP is increasingly being acquired through investment products or accumulated by longer-term holders, some of the tokens purchased from the market may ultimately move away from centralized exchanges.
Still, the available reserve data cannot establish how much of the 551 million XRP decline is directly attributable to ETFs.
The reduction in Binance reserves has occurred while XRP remains well below its previous peak.
XRP reached approximately $3.66 during its previous record-setting move. At around $1.35, the token remains roughly 63% below that level.
This makes the reserve trend particularly interesting.
If investors were simply withdrawing XRP because of a short-term price rally, the reserve decline could reverse if market sentiment changes. But if the withdrawals represent longer-term accumulation, the declining exchange balance could become a more persistent feature of the market.
The next few months should therefore show whether Binance's XRP reserves stabilize or continue falling.
There is another important distinction in the current XRP market.
A decline in Binance reserves does not mean that the total supply of XRP is falling.
Ripple's XRP holdings and monthly token releases can add tokens to the circulating supply, while exchange reserves measure only the XRP held by a particular exchange.
The current trend therefore reflects a shift in where XRP is held, rather than a reduction in the overall number of XRP tokens.
This distinction matters because the bullish interpretation of exchange outflows depends on demand remaining strong. If XRP moves off Binance but demand weakens significantly, the reduced exchange balance alone would not guarantee higher prices.
The latest CryptoQuant data gives XRP bulls another metric to watch.
Approximately 551 million XRP have left Binance since late 2025, pushing the exchange's 30-day average reserve down to around 2.6 billion XRP, its lowest level since February 2024.
The trend is occurring alongside a strong August price recovery and continued interest in XRP investment products.
For now, the data supports the idea that the amount of XRP readily available on Binance has been shrinking. If demand continues while exchange-held supply keeps declining, the reduction in immediately available tokens could eventually contribute to lower sell pressure.
But the reserve metric should be viewed alongside price action ETF flows, trading activity and broader market conditions.
For XRP, the key question is no longer simply whether investors are buying the token. It is whether the declining exchange supply can persist while demand continues to grow.
If that combination remains intact Binance's shrinking XRP reserve could become an increasingly important part of the token's market narrative.
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BTC500 Million XRP Have left Binance “This sends a relatively positive signal for XRP, although this dynamic is more relevant from a long-term perspective than in terms of having a direct impact on the price in the short term.” – By @Darkfost_Coc
