Key Developments in XRP Exchange Balances
In a dramatic shift that’s sending ripples through the crypto markets, XRP exchange balances have cratered by over 45% in just 60 days, according to fresh Glassnode data. As of November, total XRP holdings across all exchanges have dwindled to a mere 2.6 billion tokens—down from 3.95 billion on September 21. This steep decline, visualized in Glassnode’s latest chart, underscores a growing conviction among holders to move assets off centralized platforms, potentially setting the stage for a significant price rebound.
XRP Supply on Exchanges Drops Over 45% in 60 Days
— Xaif Crypto| (@Xaif_Crypto) November 28, 2025
Fresh data from Glassnode shows a major supply shift happening right now.
From 3.95B XRP on Sept 21 to just 2.6B XRP on Nov 27, exchange balances have fallen by more than 45%. https://t.co/mICyZcZya9 pic.twitter.com/7GuriJFhNp
Whale Accumulation Drives the Supply Shock
The chart paints a stark picture: a steady downward trajectory in the blue line representing 7-day SMA exchange balances, contrasting with XRP’s volatile price action in orange. The red-highlighted trough from late September to late November highlights the acceleration of this outflow, with balances hitting multi-month lows. At current prices hovering around $0.50-$0.60, this represents a locked-up value of over $1.3 billion in XRP now sidelined from immediate trading liquidity. What’s driving this exodus? Whale accumulation appears to be the prime culprit.
Binance Reserve Crash: The Catalyst Intensifying Liquidity Squeeze
On-chain analytics suggest large holders are scooping up XRP during the dip, betting on its utility in cross-border payments and Ripple’s expanding ecosystem. Compounding the effect is a reported $640 million collapse in Binance reserves—the largest exchange for XRP trading—signaling a broader supply squeeze. This isn’t just retail panic; it’s strategic repositioning amid favorable regulatory tailwinds. With the SEC’s long-standing lawsuit against Ripple largely resolved in XRP’s favor by mid-2025, institutional interest is surging. Spot XRP ETF filings from major players like BlackRock and Fidelity have further ignited speculation, drawing parallels to Bitcoin’s post-ETF rally.
Regulatory Wins and ETF Filings Boost Confidence
For traders, this supply shock is a classic bullish indicator. Reduced exchange liquidity historically precedes explosive moves, as seen in XRP’s 2017 surge. Still, risks linger: macroeconomic headwinds like potential Fed rate hikes could cap upside. Yet, with transaction volumes on the XRP Ledger climbing 30% month-over-month, adoption metrics are aligning for a breakout. Analysts now eye $1 as a near-term target if outflows persist. As XRP navigates this pivotal moment, the message is clear: less supply on tap means more firepower for the next leg up. Holders, rejoice—this could be the calm before the storm.