XRP Whale Withdrawals From Binance Hit 98.4% Gap, a Two-Year High

Binance Whale-Retail Withdrawal Gap Hits 98.4%

XRP whale withdrawals from Binance have surged to a pace the market last saw more than two years ago, according to on-chain flow data. The exchange's whale-versus-retail withdrawal gap reached 98.4% on November 4, its highest reading since October 15, 2024. The gauge measures the difference between the share of withdrawals made by wallets moving more than 10,000 XRP and the share made by retail investors moving smaller amounts, so a figure close to 100% means nearly every coin leaving the platform belongs to a large holder. Across all centralized exchanges combined, the same measure stood at just 65.1%, a much lower figure that shows the exit was concentrated on Binance rather than spread evenly across the market. That concentration makes Binance the single venue to watch for XRP supply right now, since most coins leaving exchanges under this trend are leaving that one. Destination data shows holders are moving XRP to personal wallets and cold storage rather than to other trading venues. Traders follow the metric because of what followed its earlier peaks. When whale withdrawal share climbed to comparable levels in October 2024, XRP went on to rally more than 525%. A June 2025 spike in the gauge preceded a 71% advance. Both episodes show that a sudden rise in withdrawals by large holders can come before a strong recovery, though neither guarantees the current setup ends the same way. The altcoin lost close to 16% of its value during October, and the XRP price has struggled to reclaim $1.30, so the outflow wave is running against heavy sell pressure rather than a clean accumulation story.

The flows did not begin with last week's security incident, though the breach reshaped them. On October 29, transactions above 1 million XRP on the exchange totaled 283 million XRP, and whale net outflows fell to minus 226 million XRP, one of the largest single-day outflow readings in the platform's history. That figure was 2.72 times the previous record of minus 83 million XRP, which had stood since September 2022. The outflow was not investor selling: a hacker drained close to $300 million worth of XRP during the breach. Blockchain tracing later showed 233.46 million XRP of the stolen funds split across seven newly created accounts. Binance began restoring withdrawal services in stages from November 1, and activity picked up as soon as the channels reopened. The resumption ended restrictions imposed after the breach, and pent-up transfer demand flowed out within days. Large transfer withdrawals reached 80 million XRP, 5.44 times the 14.7 million XRP recorded on October 30. The cumulative picture is more telling than any single day. Whale withdrawals from the exchange climbed from 399 million XRP on October 28 to 696.1 million XRP by November 4, an increase of 297.1 million XRP, or 74.5%, in a week. That timeline shows large holders were already moving substantial amounts of XRP off the platform before the October 29 breach. The destination matters for supply: once coins sit in a cold wallet or another self-custody address, they cannot be sold on the exchange's spot market straight away, which is why a sustained spike in withdrawals is read as a potential brake on short-term selling. For holders following this trend, our guide on how to set up a Ripple paper wallet walks through one self-custody option.

Supply Mechanics and the $1.30 Ceiling

The supply mechanics is where the 98.4% reading matters most. Withdrawals remove XRP from the pool of coins that can be sold on the exchange at a moment's notice, so an outflow trend sustained at this pace can soften short-term sell pressure even in a weak market. The caveat is context: the October 2024 and June 2025 spikes landed in different liquidity conditions, while this one follows a monthly decline of nearly 16% with the price pinned under $1.30. Our support and resistance work keeps $1.30 as the line between further consolidation and a recovery leg, and a fuller XRP technical analysis points the same way. For a modeled reference point, Finbold's AI models put XRP at $1.33 for November 30. Until buyers force a close above $1.30, the whale exodus is a supply story, not yet a price one.