XRP Supply on Binance Hits Lowest Level Since 2022 as 220 Million Tokens Exit

In Brief:

• Binance XRP reserves dropped to 2.47 billion tokens, reaching their lowest level since December 2022 following substantial exchange withdrawals.
• Bybit and Bithumb recorded declining XRP balances, bringing combined withdrawals across the three major cryptocurrency exchanges to 250 million tokens.
• Despite declining exchange reserves, XRP remains under selling pressure as broader cryptocurrency market weakness limits its potential price recovery.

XRP reserves on Binance have dropped to their lowest level since December 2022, following substantial withdrawals from the cryptocurrency exchange. The decline comes as XRP faces selling pressure alongside other major cryptocurrencies during a prolonged period of market volatility.

According to CryptoQuant data, Binance held 2.47 billion XRP on October 30, compared with 2.69 billion XRP on October 28. This represents a reduction of approximately 220 million XRP within two days, bringing exchange reserves to their lowest level in nearly four years.

The withdrawals reduced Binance’s XRP holdings by approximately 8.18%, marking a considerable change in the exchange’s available token supply. Meanwhile, XRP has struggled to recover its recent losses despite the reduction in exchange balances.

Binance XRP Reserves Decline as Bybit and Bithumb Record Withdrawals

The reduction in Binance’s XRP reserves coincided with similar movements across other major cryptocurrency exchanges, including Bybit and Bithumb. CryptoQuant figures show that both platforms experienced declining XRP balances between October 28 and October 30.

During this period, Bybit’s XRP reserves decreased from 306 million to 286 million tokens, representing a withdrawal of 20 million XRP. The reduction amounted to approximately 6.54% of the exchange’s previously recorded XRP holdings.

Similarly, South Korean cryptocurrency exchange Bithumb registered a decrease of 10 million XRP across the same two-day period. Its reserves declined from 1.847 billion XRP to 1.837 billion XRP, representing a reduction of approximately 0.54%.

Combined, the three exchanges recorded a reduction of approximately 250 million XRP, with Binance accounting for most withdrawals. This development indicates that declining exchange-held supply extends beyond a single trading platform. Notably, Binance recorded the largest percentage decrease among the three exchanges, followed by Bybit and Bithumb.

XRP Exchange Withdrawals Coincide With Broader Market Weakness

The declining exchange balances come as XRP struggles with the wider cryptocurrency market downturn, which has affected several major digital assets. Despite substantial withdrawals, XRP has not recorded a corresponding price recovery during the period covered by the data.

Exchange reserve reductions can reflect transfers into private wallets, institutional custody arrangements, or other addresses outside centralized trading platforms. Consequently, the figures do not independently establish whether investors purchased additional XRP or simply relocated existing holdings.

Nevertheless, the CryptoQuant figures confirm a substantial reduction in XRP balances across Binance, Bybit, and Bithumb within two days. The combined withdrawals highlight changing exchange supply conditions, while XRP remains exposed to broader cryptocurrency market volatility.