XRP (XRP) deposits to tracked exchanges hit a seven-month high while the average value of large withdrawals from Binance fell to its lowest since October 2021, though neither figure shows whether holders bought or sold.
CryptoQuant contributor Arab Chain reported about 6.05 billion XRP arriving at tracked exchanges over 30 days. Binance received about 2.46 billion XRP, the largest share among those exchanges. The combined deposit total was the highest in seven months.
In a separate CryptoQuant post, analyst Darkfost said the 90-day average dollar value of large XRP withdrawals from Binance had fallen to $49.7 million as of Oct. 20. Darkfost compared the level with October 2021. The average stood at about $3.5 billion in February 2025.
The figures cannot be used to calculate how much XRP entered or left exchanges on balance. One measure counts XRP received by several exchanges in a month; the other averages the dollar value of large Binance withdrawals over three months. A change in XRP’s price could move the withdrawal dollar average even if the quantity transferred stayed the same.
Depositing tokens at an exchange does not establish that they were sold. A withdrawal likewise does not prove a purchase or identify the owner of the receiving address, as earlier EconoTimes coverage of the Binance measure explained.
The withdrawal series relies on wallets identified as belonging to Binance, so changes to those labels could alter past readings. Its Oct. 20 value describes a rolling average rather than withdrawals made on that date alone.
Arab Chain offered heavier trading and wallet transfers as possible explanations for the deposits, without establishing their cause. The analyst pointed to price movement, trading volume and outflows as further indicators for assessing the deposit count.
