XRP has quietly been leaving Binance at a steady pace, a trend highlighted by CryptoQuant contributor Darkfost (X: @Darkfost_Coc) as potentially indicative of renewed accumulation after a sharp year-to-date drawdown.

Binance Supply Ratio Declines

According to CryptoQuant, the Binance XRP supply ratio — which tracks how much XRP is held on the exchange relative to total circulating supply — has fallen over the past ten days from 0.027 to 0.025, meaning roughly 200 million XRP moved off the platform. Darkfost described the shift as “notable,” suggesting that holders are increasingly withdrawing funds into private custody rather than leaving them liquid on the exchange.

Rising exchange reserves usually signal readiness to sell, while declining reserves imply that investors are positioning for the long term. “A decline in reserves held on trading platforms suggests investors are withdrawing. Funds are moved into private custody solutions,” Darkfost noted, emphasizing that this movement aligns with traditional accumulation behavior.

Context and Caveats

Not all transfers off exchanges indicate long-term holding — operational adjustments, wallet reshuffles, and custody consolidations can also affect reported balances. However, Binance’s public custody addresses allow analysts to distinguish organic withdrawals from internal movements, and Darkfost believes at least part of the recent decline reflects genuine user-driven activity.

The trend comes after XRP experienced a roughly 40% correction since the start of the year, potentially attracting investors looking to accumulate at lower prices. As coins move off exchanges, they become less immediately liquid, which historically correlates with holding rather than selling pressure.

At the time of reporting, XRP was trading at $1.4161, with analysts monitoring Binance’s supply metrics as a barometer for near-term positioning and accumulation trends.