TLDR:
- XRP withdrawal share on Binance reached 53.8% on June 23, the highest since June 2024.
- Deposit transactions fell to 46.1%, their lowest level in approximately two years.
- Withdrawals have outpaced deposits for seven straight days since June 17 on Binance.
- Ripple burned $539M in RLUSD over 30 days, with burns exceeding mints by $129M.
XRP withdrawal transactions on Binance have reached their highest share since June 2024, climbing to 53.8% on June 23. Over the same period, deposit transactions fell to 46.1%, their lowest reading in roughly two years.
The gap between the two metrics now stands at 7.7 percentage points, marking a notable shift in XRP transaction behavior on the exchange over the past week.
Withdrawals Hold Control for Seven Consecutive Days
The withdrawal dominance on Binance is not a one-day event. XRP withdrawals have outpaced deposits every day since June 17, representing seven straight days of sustained divergence. This streak is the key development distinguishing the current move from routine daily fluctuations.
Source: Cryptoquant
The 7-day withdrawal share of 53.8% recorded on June 23 now stands as the highest level since June 2024. Meanwhile, deposit transaction share at 46.1% reflects its weakest position in approximately two years. The data shows a clear reversal from the pattern seen in prior months.
It is important to note what this metric measures. The figures track the share of deposit and withdrawal transactions, not the total dollar value or volume of XRP moved.
A higher withdrawal share means withdrawal transactions are outnumbering deposit ones — it is not a direct buy-or-sell signal on its own.
Still, the persistence of this trend over a full week gives the data added weight. A single-day spike can often be noise, but seven consecutive days of withdrawal dominance represents a sustained behavioral shift among XRP holders on Binance.
RLUSD Burns and XRP Price Performance Add Context
Beyond exchange flow data, Ripple’s RLUSD stablecoin activity has drawn attention over the past month. According to on-chain data shared by validator Vet’s community tracker, Ripple burned $539 million worth of RLUSD over the past 30 days, with burns exceeding mints by more than $129 million during that window.
Most of the destruction occurred between June 2 and 12, which marked the longest intraday burn streak since RLUSD launched in December 2024.
The single largest burn on record came on June 3, when $75.1 million worth of RLUSD was removed in a single day.
Against this backdrop, XRP is trading at $1.11 at the time of writing. The token recorded a 1.47% decline over the past 24 hours and a 9.43% drop over the past seven days. Trading volume over the same 24-hour period reached $1.37 billion.
Source: Coingecko
The combination of prolonged withdrawal dominance on Binance, declining deposit share, and the broader RLUSD burn activity presents a multi-layered picture of XRP market dynamics heading into late June.
