In a notable development within the cryptocurrency markets, a substantial quantity of XRP has been withdrawn from centralized exchanges over a brief 24-hour period. More than 149 million units of XRP, valued at approximately $336 million USD, were moved off these platforms. This significant outflow is unlikely to be attributed to typical retail trading activity, according to analysis from Pumpius.
Data from on-chain analytics platforms corroborates a considerable decrease in XRP holdings on major exchanges. For instance, data indicates that XRP reserves on Binance fell below 2.8 billion tokens in early November 2025, following a consistent trend of declines in preceding months. These reports further suggest that the recent exodus of 149 million tokens has notably impacted the liquidity of XRP available on exchanges.
XRP SUPPLY ON EXCHANGES IS COLLAPSING. More than 149 million XRP worth roughly 336 million dollars has been pulled off centralized exchanges in just 24 hours. This is not normal retail movement. This is mass accumulation, the kind of behavior that happens when big players…
The Significance of the Supply Reduction
When cryptocurrency tokens are withdrawn from exchanges, they are typically transferred to self-custody wallets or cold storage. This action reduces the immediate supply available for trading. Consequently, a smaller pool of tokens is available to meet rising buy-side demand. This scarcity means that even relatively small increases in buying pressure could potentially lead to more pronounced price movements.
These withdrawals suggest that significant holders may be preparing for events beyond standard trading speculation, moving assets into private custody in anticipation. Pumpius characterized this behavior as distinct from "normal retail movement." Concurrently, analytics platforms are highlighting the possibility of a "supply crisis" that could potentially fuel XRP's next upward price trend.
Institutional Interest and ETF Activity
In parallel with the reduction in XRP's exchange supply, institutional interest in XRP has shown acceleration. The recent launch of the spot-XRP ETF product, XRPC, experienced strong initial inflows, introducing an institutional dimension to the on-chain scarcity.
The combined effect of decreasing exchange reserves and increasing institutional demand suggests that XRP might be entering a structural phase where its supply may not be able to readily accommodate sudden surges in demand.
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Potential Market Implications
If large holders are strategically withdrawing XRP in anticipation of increased demand, the market could be setting the stage for a significant supply squeeze. A reduced selling pressure could mean that buyers entering the market might encounter less resistance.
Such market conditions often precede periods of heightened volatility and sustained upward price movement. However, the absence of immediate price acceleration indicates that patience may be a necessary virtue. The accumulation phase could extend before the full impact of the supply-shock dynamic becomes apparent.
Concluding Remarks
The substantial withdrawal of XRP from exchanges, coupled with heightened institutional attention, points towards a potentially transformative period for the asset's market structure. As liquidity tightens, any future wave of demand could have a disproportionately large effect on price action.
If large holders are indeed accumulating assets in preparation for a significant event, the primary question becomes not if, but when. Currently, the available evidence suggests a market that is quietly positioning itself for its next phase of development.