Binance XRP Reserves Drop to 2.6 Billion, Matching Early‑2024 Low

Cryptoquant’s latest assessment indicates that Binance’s average XRP balance over the past 30 days has declined from roughly 3.1 billion in November 2025 to 2.6 billion, a net reduction of about 500 million tokens. The figure reflects a monthly average, not a single withdrawal, and aligns the reserve level with a trough observed in February 2024.

Possible Drivers of the Decline

The drop may be linked to several factors, though none are confirmed:

• Self‑custody moves: Holders may be transferring XRP to personal wallets, reducing exchange‑held balances.
• Spot XRP ETFs: New exchange‑traded funds launched in late 2025 (e.g., Bitwise, Canary Capital, Franklin Templeton, Grayscale, 21Shares) could be sourcing XRP from exchanges, affecting reserve totals.
• General withdrawal activity: Binance recorded more XRP withdrawals than deposits for seven consecutive days in June, indicating net outflows.

Price Context

During the same period, XRP’s price rose about 30 % in August, reaching around $1.35 on September 1, well below its 2025 peak of $3.66. By the time of writing, the token traded near $1.45 after an 8 % 24‑hour gain.

Interpretation

Cryptoquant’s commentary suggests the reserve contraction sends a “relatively positive signal” for XRP from a long‑term perspective, though it is not expected to directly influence short‑term price movements.

ETF Holdings Snapshot

As of August 27, the Bitwise XRP ETF reported net assets of $502.7 million and held approximately 364.8 million XRP, up by about 78 million XRP since the end of June.