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Points of Focus
- Binance’s 30-day XRP reserve average fell from 3.17 billion XRP in November 2025 to 2.61 billion on Sept. 1.
- The 551-million XRP decline amounts to 17.4% and was equivalent to about $744 million at XRP’s Sept. 1 closing price.
- The reserve measure continued falling as XRP rallied from roughly $1.00 to $1.52 in August before retreating.
Binance’s average XRP (XRP) reserve has fallen by more than half a billion tokens since November, taking the measure to its lowest level in more than two years. The decline continued through a volatile stretch for XRP that included a sharp August rally and subsequent pullback.
The 30-day simple moving average (SMA) of XRP held in wallets attributed to Binance declined from 3.166 billion XRP to 2.615 billion between Nov. 23, 2025, and Sept. 1, according to CryptoQuant data. The difference of roughly 551 million XRP represents a 17.4% decline over a little more than nine months.
At XRP’s Sept. 1 closing price of $1.35, the 551-million-token difference was equivalent to about $744 million. The calculation gives a sense of the scale of the reserve decline without indicating where the XRP was ultimately transferred.
Binance’s XRP reserve average drops to 2.61 billion
The latest reading puts Binance’s 30-day XRP reserve average back at levels last recorded in February 2024. The measure has trended lower through much of 2026 after standing above 3 billion XRP late last year.
Exchange reserve data tracks assets held in wallets that analytics providers attribute to trading platforms. The 30-day average smooths out short-lived transfers and provides a broader view of changes in Binance’s identified XRP balance.
A falling balance can reflect customer withdrawals, transfers to other custodians or exchanges, or changes in the wallets included in CryptoQuant’s attribution system. The data set does not trace the XRP after it leaves addresses classified as Binance reserves, so the reserve series alone cannot establish who received the tokens or whether ownership changed.
CryptoQuant’s analysis cited self-custody withdrawals and demand from spot XRP exchange-traded funds (ETFs) as possible contributors to the decline. Those explanations cannot be confirmed from the reserve data alone.
Reserves fall as XRP swings from $1 to $1.52
The reserve decline continued through a sharp reversal in XRP’s price. CoinGecko data shows the token climbing from about $1.00 on Aug. 18 to a closing high of $1.52 on Aug. 23, a gain of roughly 52% in five days.
XRP then surrendered part of the rally and closed Sept. 1 at $1.35. CoinGecko valued its circulating supply at approximately $86.5 billion on the same date.
The pullback followed a volatile stretch in which XRP price action remained sensitive to ETF flows, derivatives positioning, and the broader crypto market.
Binance’s 30-day reserve average continued moving lower across both the rally and the subsequent retreat.
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