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For the first time in almost a year, more wallets are withdrawing XRP from Binance than depositing it. It’s a small change on the face of it, but on the main market of XRP, such a conversion is worth listening to, not because it makes XRP more valuable, but because the behavior under the price has changed.
- More wallets are now withdrawing XRP from Binance than depositing it, for the first time since July 2025.
- The net index changed from +26,200 to -6,210 in 23 days.
- XRP trades at $1.11, up 2.5%, rising above the $1.00-1.05 support band.
Binance Net Wallet Takes a Bad Turn
The metric here measures the difference between wallets depositing XRP to Binance and wallets withdrawing, measured over a seven-day window. For most of last year, deposits ruled. It’s not like that anymore.
- On June 7, Binance recorded approximately +26,200 net deposit wallets, depositing a large amount of money.
- By June 30, the number had dropped to -6,210, meaning that withdrawals outnumbered depositors.
- That’s a swing of 32,410 bags in just 23 days.
The main point is the story. This is the first negative reading since July 2025, and the previous low was only -1,350. Today the figure is 4.6 times worse than that, so this is not dipping the edge under the line, it is a strong recovery in favor of Binance seen on XRP for almost a year.
Exchange flows have a negative character trait. Deposits usually mean that coins are being traded or sold, while withdrawals usually mean that users are moving their assets into private wallets, escrow services, or DeFi, where they tend to stay instead of being sold immediately.
So the decrease in wallets indicates that a new decrease is coming on Binance, which, if successful, could reduce the trading speed. And because Binance is the largest trading platform for XRP, a confirmed move here is considered more important than a similar move on a smaller exchange.
This is where caution is needed, as the metric has real limitations. It measures wallets, not volume.
One whale depositing 100 million XRP is exactly the same as one trading wallet depositing 100 XRP. By the same logic, thousands of small withdrawals do not mean that more XRP left the exchange than entered. So the data can’t confirm the accumulation, and can’t confirm that Binance’s XRP levels are actually falling. What it shows, exactly, is that the quality of the bag has been tilted towards withdrawal. This is a real sign, but it is narrow, and it is important to keep it in line with what it says.
How the tree is doing
The price of the background fits the growing market without conversion. XRP trades at $1.11 on Coinbase on the 3rd of July, up 2.47% on the day, closing right on the field, which tells you that buyers have worked closely. The jump comes from the bottom of the $1.00-1.05 band posted at the end of June, after a sharp drop from around $1.5 in early June.
Look outside and the action is still on the ground. Since February, XRP has recorded very low levels, around $ 1.50 in February, $ 1.48 in May, $ 1.26 in the middle of the June rebound, and June’s selloff leg is very sharp, falling from around $ 1.40 to $ 1.00 zone in about three weeks. The latest move is a second attempt to bounce back from the $1.00-1.05 support, which has been tested several times and held.
Moving averages leave no doubt about the broader trend. The price is below all three, and all three are downward sloping:
| Moving Average | Dosage | Distance Over Cost |
|---|---|---|
| 50-days | $1.2083 | ~8.5% |
| 100-days | $1.2981 | ~16.5% |
| 200 days | $1.4863 | ~33% |
All bearish prices, prices below 50, below 100, below 200, confirm that the downtrend does not exist. Further, the first resistance is around $1.15 (the June consolidation area), then the 50-day close to $1.21, which is also in line with the June area.
Momentum is improving but not convincing. The RSI reads 47.7 and rising, recovered from the oversold close to 30 at the end of June, and is back above its signal line at 35.97, consistent with a short-term breakout, but it is staying in a neutral zone, not the kind of strength that usually accompanies a real change. The volume is the main warning: today’s decline is taking place in a small reversal, while the most recent high was green near the middle of June, a possible absorption, but the follow-up has failed. The recovery on weak volume is what makes it difficult to call it a sustainable conversion.
XRP has not suddenly turned bullish in the short term. It is that the behavior of the market has changed. For several weeks, Binance was taking XRP from more wallets than it lost; that pattern has now reversed, to the point of favoring removal in about a year, even as prices are slowly rising within the ongoing downtrend.
No sign, by itself, guarantees conversion. Wallet data may need to be backed up by a near-fallback or a rise in long-term bank holdings to be real evidence that XRP holders are moving money to catch up. Price may need a 50-day retracement near $1.21 to signal anything more than a break. Until the confirmations appear, this is what it is: a real change in behavior worth watching, being within the same risk, a very low example of holding the altcoin market, not evidence that the tide has turned.
