XRP Withdrawal Activity Surges Across Major Exchanges as Bybit’s Deposit Wave Reverses

TLDR:

• Coinbase posted a seven-day net reading of -15,500 on June 18, exceeding its April and February lows.
• Binance recorded -7,100 on June 18, near April levels and below its February 14 reading of -5,200.
• Bybit’s net reading collapsed from +27,000 on June 7 to roughly -200 by June 18 in just 11 days.
• Spot XRP ETFs now hold 1.41% of circulating supply after just five outflow days since March 27.
  

XRP withdrawal activity is again gaining traction across major cryptocurrency exchanges, with fresh on-chain data from June 18 pointing to a notable shift.

Coinbase and Binance both posted deeply negative seven-day net depositing and withdrawing transaction readings.

Meanwhile, Bybit’s unusually large early-June deposit surge has nearly fully reversed. Separately, spot XRP ETFs in the United States continue accumulating supply, now holding over 1.4% of circulating tokens.

Coinbase and Binance Post Negative Net Transaction Readings

Coinbase recorded a seven-day net depositing and withdrawing reading of -15,500 on June 18. That figure fell below its April 9 reading of -14,200 and its February 14 level of -12,300. The move places the current withdrawal dominance at a more extreme rate than either prior episode.

Binance followed the same direction on the same date. Its reading dropped to -7,100, near April levels and below the -5,200 recorded on February 14. That cross-exchange alignment removes any suggestion that the activity is exchange-specific.

Source: Cryptoquant

The metric tracks the net number of depositing versus withdrawing transactions. It does not measure the total XRP volume or dollar value transferred between accounts. Even so, a synchronized drop across two of the largest exchanges carries weight as a behavioral indicator.

The back-to-back negative readings across Coinbase and Binance point to a broader pattern. XRP holders appear to be moving tokens away from centralized venues at a pace that now exceeds prior notable periods this year.

Bybit’s Deposit Surge Collapses While ETF Holdings Pass 1.4% of Supply

Bybit presented the sharpest single-exchange reversal. Its net reading stood at roughly +27,000 on June 7, reflecting an unusually concentrated deposit wave at the time.

By June 18, that figure had fallen to approximately -200, erasing nearly all of the early-June movement within 11 days.

The speed of the reversal at Bybit adds context to the Coinbase and Binance readings. Together, the three data points suggest a coordinated behavioral shift across major XRP trading venues during June. The withdrawal side is reclaiming dominance across different exchange types and geographies.

On the institutional side, spot XRP ETFs in the United States recorded net inflows of approximately $2.82 million on June 15.

Following that session, the suite of Ripple-linked ETF products now holds 1.41% of XRP’s entire circulating supply.

Since March 27, spot XRP ETFs have posted net outflows on just five trading days. That streak reflects sustained institutional demand running alongside the exchange-level withdrawal activity now observed across Coinbase, Binance, and Bybit.

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