XRP Exchange Net Wallet Flows Flip Negative for First Time in a Year
$XRP activity on Binance recorded an important directional change in June, as wallet behavior moved more toward withdrawals. Specifically, the Binance exchanges 7-day net depositing and withdrawing wallet count fell from +26,200 on June 7 to -6,210 on June 30, according to on-chain data sourced by market resource CryptoQuant. For context, this represents a 32,410-wallet swing over 23 days, which pushes Binance from a period where deposits dominated into one where more wallets are taking $XRP off the exchange than sending it in. $XRP Exchange Net Wallets | CryptoQuant Notably, June 30 marks the first negative reading since July 9, 2025, when the figure only dropped to -1,350. The current level of -6,210 is about 4.6x deeper, indicating a much stronger move toward withdrawals than previously seen. Across other exchanges, withdrawals now appear to outweigh deposits as well, suggesting that fewer participants are moving $XRP onto trading platforms. However, Binance still stands out, as the platform remains the only major exchange with a deeply negative net-wallet reading. What the Data Can and Cannot Confirm Despite the shift in net wallet flow on Binance toward negative readings, the metric has its limits. It tracks the number of wallets moving $XRP, not the amount being transferred. As a result,