XRP is trading just above $1, leaving the token at its lowest price level of the year, but on-chain data paints a different picture.
The supply of XRP held on exchanges continues to decline, Binance withdrawals have exceeded deposits for seven consecutive days, whale flows remain positive, and spot XRP exchange-traded funds (ETFs) have attracted $243 million in inflows since April.
Improving on-chain data indicates healthy network positioning, even as XRP continues to seek a price floor.
XRP supply on exchanges continues to decline
Amr Taha, crypto analyst note that Binance’s XRP reserve fell to its lowest level since March after around 100 million XRP left the exchange over the past month. Binance’s balance stood at approximately 2.68 billion XRP on June 25, up from 2.78 billion XRP on May 12, representing the largest outflow among major trading platforms.
XRP Multi-Exchange Daily Reserve. Source: CryptoQuant
Other stock markets also saw smaller declines. Upbit’s reserve fell to 2.48 billion XRP on June 25 from 2.51 billion XRP on May 31, while Bybit’s holdings decreased to 82 million XRP from 92 million XRP on June 2. Binance led absolute outflows, while Bybit saw the largest percentage decline.
Taha also highlighted a significant change in Binance trading activity. XRP withdrawal transactions have exceeds deposits for seven consecutive days since June 17. The share of seven-day withdrawals jumped to 53.8% on June 23, its highest level since June 2024, while deposits fell to 46.1%, the lowest level since 2024.
Daily XRP deposit/withdrawal transactions (%) on Binance. Source: CryptoQuant
The metric tracks the number of transactions rather than XRP volume. This indicates that users are transferring coins from Binance more frequently than sending them to the exchange, which is the longest withdrawal period in about a year.
Large XRP holders supported the trend. XRP whale flow on the 90-day moving average remained positive throughout the quarter at 5.143 million XRP per day, showing consistent net accumulation by large wallets instead of distribution.
The XRP whale is sinking. Source: CryptoQuant
Institutional demand also added support. Spot XRP ETFs saw $2 million in net inflows on June 24, bringing total June net flows to $31 million. Since April, cumulative total inflows have reached $243 million.
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XRP Price Nears Major Demand Zone
From a technical perspective, the longer-term market structure remains bearish for the altcoin. XRP touched $1.01 on Thursday, its lowest price of 2026, leaving the token near its first move below $1 since November 2024. The decline has sent XRP down 43% year to date.
XRP/USDT, one-week chart. Source: Cointelegraph/TradingView
The next key area for XRP lies in the fair value gap between $1 and $0.63, an unfilled price gap created during the strong rally in late 2024 and which could attract buying interest if the decline continues in the coming weeks.
Versan Aljarrah, founder of Black Swan Capitalist continue to focus on the longer term chart. The analyst said that XRP has spent years building a wide accumulation range with higher lows on weekly and monthly time frames.
XRP/USD, one month chart analysis by Versan Aljarrah. Source:
Aljarrah argued that extended consolidations often produce stronger breakout moves once the price eventually breaks out of the range, with the analyst targeting $10, a 900% increase from the current price.
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