XRP Deposit Share Spikes to 59.5%, Highest in 2 Years: Possible Impact on Price

XRP deposit transaction share on Binance recently rose to 59.5%, representing the highest level since October 2024. The increase came as XRP’s price fell to around $1.10, showing a change in how investors moved the token. This latest trend indicates that more individual XRP transactions involved deposits into Binance than withdrawals from the exchange. On the same day, XRP’s withdrawal transaction share on Binance dropped to 40.4%, its lowest level since 2024. This widened the gap between deposits and withdrawals to 19.1 percentage points, indicating that deposits accounted for a much larger share of transaction activity. The figures across other centralized exchanges (CEXs) , however, reveal a much different trend. Specifically, XRP deposit share across all exchanges increased from approximately 45% on Oct. 27 to 49% on Nov. 8.

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