XRP Deposit Share on Binance Hits 59.5%, Highest Since October 2024

XRP (XRP) deposits represented 59.5% of Binance's seven-day mix of deposit and withdrawal transactions in a Nov. 8 reading, the highest share since October 2024 and a reversal in transaction counts.

Withdrawals accounted for 40.4% in the same reading, putting deposits ahead by 19.1 percentage points. The shift follows an Oct. 25 snapshot in which withdrawals led on Binance and deposits made up 44.25% of transactions. Binance's deposit share reached 56.2% on Nov. 5 before rising to its latest level.

The broader exchange measure showed a different balance on Nov. 8. Across the tracked centralized exchanges, deposits represented about 49% of transactions and withdrawals 50.9%. Binance's deposit share was 10.5 percentage points above the broader figure, even as withdrawals retained a narrow lead across the full group.

The percentages count transfers into and out of exchange wallets, with each transaction counted once regardless of how many XRP it carries. Several small deposits can outnumber a larger withdrawal while moving fewer tokens. A higher deposit transaction share therefore cannot show that Binance received more XRP than it sent out, or that depositors later sold their tokens.

The distinction matters when reading the latest price alongside the transfer data. At 7:51 a.m. ET (12:51 UTC) on Nov. 9, XRP traded at $1.11 on Binance's XRP/USDT spot market, down 4.71% over the preceding 24 hours. That observation came after the Nov. 8 transaction reading, and its 24-hour price window differs from the seven-day transfer measure. The figures do not establish a link between the two.

The seven-day period also overlapped Binance's staged restoration of withdrawals. Binance kept deposits open and scheduled additional withdrawal routes beginning at 11 p.m. ET Nov. 5 (04:00 UTC Nov. 6), with availability rolling out by asset and network. The transaction shares do not establish whether that process affected the mix.

Assessing the direction of XRP movement would require deposit and withdrawal amounts measured over the same period. The 59.5% share alone provides no measure of net XRP flows or completed sales.