Withdrawals of XRP from centralized exchanges (CEX) have reached a five-year high. According to analyst Amr Taa, on July 31, the share of withdrawals on Binance reached 55.6%, the highest since February 2021:
This movement has also affected the entire centralized exchange market, indicating that changes are not limited to a single platform:
What do the data show
According to Amr Taa, the weekly share of XRP withdrawals on Binance has risen to 55.6%. The overall share in the centralized exchange market has reached 54%, both of which are the highest since February 2021:
At the same time, the share of XRP deposit transactions has fallen to a multi-year low. On Binance, it has decreased to 44.3%, while the average across all exchanges has dropped to 45.95%:
The difference between withdrawals and deposits has significantly increased. On Binance, it has amounted to 11.3 percentage points compared to the market average of about 8.05 points:
Binance's metrics differed from the overall market. Withdrawals exceeded the average by 1.6 points, while deposits were lower than average by about 1.65 points:
This movement itself accelerated in the last weeks of July. It was uneven: withdrawals increased while deposits simultaneously decreased:
How to interpret this
The analyst notes the timing of this movement as particularly significant. XRP was trading at around $1.08, significantly lower than previous peaks, and the behavior of the exchanges was changing despite the price weakness:
However, this metric requires careful interpretation. It measures the number of deposits and withdrawals, not the volume of XRP moved or net exchange flows. Therefore, the data only show a shift in the structure of transactions:
They do not prove either the accumulation or reduction of reserves, nor capital outflows from exchanges:
Other indicators will reveal the complete picture. Assessing real flows will require not only transaction counts but also volume data.
