A recent anomaly in XRP’s circulating supply has raised eyebrows among the crypto community. According to the recent CryptoQuant’s data, Binance has flushed approximately 45% of their Ripple (XRP) stash in just one year, ending up in long-term cold storage.
Binance & Coinbase Flush Out Billions Of XRP
This comes along with Ripple’s institutional push, with the latest Clarity Act draft introducing a clear regulatory framework for stablecoin use on a federal level. This includes Ripple’s RLUSD, for which Ripple Labs is currently acquiring a banking license.
With Binance’s XRP reserves slumping from 10.16 billion to 5.55 billion, latest Crypto Quant data revealed. Namely, a similar trend has been witnessed on Coinbase & several other exchanges. For Coinbase, the XRP reserve crunch has been even sharper.
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Coinbase’s official wallet presently holds just 107,598,075 XRP coins, a figure considerably smaller than Binance’s. The big hole in Coinbase’s XRP reserve evolved last Autumn, when Coinbase shoveled off 93.3% of their original holdings in a matter of a week.
Glassnode, another blockchain analytics platform, has recently drawn attention to XRP’s price setup closely resembling that of 2022. Then, XRP’s price plunged from $0.83 to $0.30 when newcomers started buying the XRP at lower prices than long-term holders.
Because of this, the $2 price range becomes psychologically significant. If XRP’s bulls manage to defend this area, the bearish scenario described by Glassnode could be written off for good. However, most big-time XRP players are in a ‘wait-&-see’ mode due to geopolitical concerns.
Bi-Fold XRP Liquidation Wave Whips Both Sides
Moreover, Futures markets are still dominated by the short-sellers, even though XRP keeps itself afloat in positive territory when it comes to the Open Interest (OI) weighted funding rate. Simply put, this means short-sellers are still paying for long positions on XRP’s price in most cases. Despite this, beyond $7 million in XRP longs were brutally liquidated.
Another intriguing detail is the $2 million in XRP short-seller liquidations over the past 24 hours, hinting at excessively-leveraged positions on both sides of the camp. Additionally, XRP’s high correlation with Bitcoin (BTC) could come in handy – the flagship asset reclaimed the $90K price tag on Wednesday evening, upping the odds of XRP’s $2 breakthrough.
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Binance XRP reserves dropped ~45% in a year—from $10.16B to $5.55B. Billions moved off-exchange, likely into cold storage or long-term wallets.
CryptoQuant data zooms in on Binance’s XRP Ledger exchange reserves in USD, showing a sharp decline starting mid-2025, accelerating into late 2025 and early 2026.
XRP hovers around the $2 psychological wall. Short-term buyers are piling in below longer-term holders’ cost basis, recreating 2022-style pressure that caps upside until a breakout catalyst hits.
Bullish on fundamentals (supply shrinking, less sell pressure), but neutral-to-cautious on near-term price action without a spark (ecosystem news, market rally, etc.).
Outflows scream accumulation; price lag is classic crypto—fundamentals improving while sentiment grinds. Watch for volume or Ripple catalysts to flip it.
