XRP withdrawal transactions from exchanges have reached their highest level since February 2021, according to CryptoQuant data, as monthly inflows into exchanges collapsed to 3.6 million XRP, a record low.
Exchange reserves of XRP have fallen to their lowest point since February 2021. Monthly inflows of 3.6 million XRP represent the lowest recorded entry of coins into exchange wallets in any single month.
Open interest in XRP derivatives has fallen since May. XRP traded just above $1 at the time the withdrawal activity peaked.
The withdrawal pattern inverts the typical flow seen during bear markets, when sellers attempt to exit positions and deposit coins on exchanges to access liquidity. Instead, the current data shows the opposite dynamic: coins leaving exchanges while inflows hit record lows.
XRP's price action near $1 has persisted despite the shift in holder behavior. The token fluctuated between $0.97 and $1.12 during the period when withdrawals accelerated. Historical withdrawal spikes have not always preceded immediate price rallies; the February 2021 peak preceded months of consolidation before XRP reached $1.96 in April of that year.
The combination of record-low inflows, multi-year low exchange reserves, and declining derivatives open interest reflects how large XRP holders are positioning their coins. If monthly inflows remain below 5 million XRP for the next three reporting periods, the pattern would mark a sustained departure from the historical average that has held since 2022.
