XRP reserves fall to 2.61B as whale withdrawals fail to move price

XRP traded near $1.10 on July 16, down from its early 2026 high of $2.30, as heavy withdrawal activity across major exchanges failed to generate upward momentum.

"The gap between exchange outflow intensity and price response suggests the tokens are moving to cold storage rather than to active trading desks," CryptoQuant analyst Amr Taha said, citing Coinbase withdrawal data.

Binance XRP reserves fell to about 2.61 billion tokens from roughly 2.80 billion in March, with the decline accelerating toward the end of June. Coinbase's seven-day net transaction count dropped to around -13,000 — its most withdrawal-heavy level in five months, according to CryptoQuant data. Binance recorded roughly -5,600 withdrawal transactions, while Bybit's net flow moved from about +27,000 in early June to nearly neutral by mid-July.

The missing link is velocity. XRP's network velocity stood near 0.0034 at the time of writing, well below the larger spikes seen earlier this year. Low velocity means the token is changing hands infrequently on-chain, suggesting that whale accumulation has not yet translated into broader market participation or new demand.

The Spot Average Order Size chart from CryptoQuant shows that most recent trades fall into the "Big Whale Orders" category, confirming that large holders remain active despite the price stagnation. But the data does not reveal whether those whales are buying or selling — only that their order sizes dominate the order book.

The withdrawal pattern across exchanges points toward accumulation. Users moving tokens off platforms reduces the supply available for immediate sale, a setup that historically precedes price appreciation if demand holds steady. But XRP's price stability around $1.10 suggests demand has not yet absorbed the withdrawn supply in a way that moves markets.

What's at stake for XRP holders

The divergence between exchange outflows and price action creates a binary setup. If the withdrawn tokens represent accumulation by long-term holders, the reduced exchange supply could eventually trigger a squeeze higher. If instead the tokens are being moved for OTC sales or custodial rebalancing, the price may remain range-bound until a catalyst emerges — such as progress on the CLARITY Act or a resolution to the Middle East conflict that has weighed on risk assets.

XRP's next major resistance sits near $1.35, while support holds around $0.95, levels that have contained the token for several weeks.

This article is for informational purposes only and does not constitute investment advice.