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$XRP wallet activity across major exchanges, including Coinbase, Binance and Crypto.com, has dropped to negative territory.
$XRP has continued to trade under pressure over the past few days. Notably, the token trades within the $1.05 to $1.08 range as sellers keep the market on the defensive.
While the price has struggled to gain momentum, new on-chain data shows that Coinbase, Binance, and Crypto.com have moved into negative $XRP wallet territory. This indicates that more wallets are withdrawing $XRP than depositing it.
Coinbase Records the Deepest Drop in $XRP Wallet Activity
The latest on-chain figures show that $XRP withdrawal wallet activity picked up across several major exchanges in early August. Among the major platforms, Coinbase recorded the largest decline.
On Aug. 4, Coinbase’s seven-day net depositing/withdrawing wallets metric dropped to -10,900. In simple terms, wallets withdrawing $XRP exceeded wallets depositing it by 10,900 during the seven-day period.
This was also Coinbase’s weakest reading on record. For context, the figure came in 3.4x lower than its previous low of -3,200, which it recorded in June 2025.
However, the trend did not stop with Coinbase. Data shows that Binance and Crypto.com also entered negative territory on July 17 and remained there through August.
Binance and Crypto.com Show the Same Pattern
While Binance and Crypto.com recorded declines, neither exchange has fallen below the lows they reached in June 2025.
On Aug. 4, Binance posted a reading of -2,550, its lowest level since June 2025, when the metric fell to -4,380. Crypto.com also declined to -2,290, marking its weakest reading since June 2025. However, this remained above its previous low of -4,470.
Even though Binance and Crypto.com have not yet matched their June 2025 lows, the fact that all three exchanges entered negative territory at the same time confirms the broader trend.
For context, this metric measures the number of wallets making deposits and withdrawals, not necessarily the amount of $XRP moving on or off exchanges. As a result, it indicates how widespread withdrawal activity has become, not the total value of $XRP leaving exchanges.
Large $XRP Exchange Outflows
The latest wallet figures build on an earlier report that highlighted a rise in $XRP outflow transactions involving 100,000 $XRP or more on Coinbase and Binance.
On Binance, transfers of more than 1 million $XRP made up 55.3% of the exchange’s total daily $XRP outflow value on Aug. 3. Analyst Taha noted that this represented the highest share since June 30.
Meanwhile, Coinbase showed a different pattern. Notably, transactions above 1 million $XRP made up just 15% of the exchange’s total outflow value on Aug. 3, down from 36% on July 2.
However, activity increased in the 100,000 to 1 million $XRP transaction range on Coinbase. This category grew from roughly 35% on June 1 to 55.8% on Aug. 3, an increase of 20.8 percentage points during that period.
$XRP Continues to Face Technical Weakness
Despite the increase in exchange withdrawals, $XRP’s short-term picture remains weak. The token currently changes hands around $1.06, down 0.83% over the past day.
$XRP continues to trade below its 20-day EMA of $1.0838, 50-day EMA of $1.1163, and 100-day EMA of $1.1971. At the same time, the MACD histogram has turned negative, showing that bearish momentum still dominates in the near term.
The $1.05 to $1.06 range remains the key support area after attracting buyers several times since late June. However, if the price falls below $1.02, the risk of a deeper decline could increase.
On the upside, the $1.13 to $1.14 range remains the first important resistance area. Beyond that, the 100-day EMA at $1.1971 stands as the next major hurdle that $XRP must overcome before any stronger recovery can take shape.
While the technical outlook remains weak, Ripple President Monica Long shared a more positive view on Aug. 4. She called attention to growing institutional interest in 24/7 on-chain trading, which could improve market sentiment over time.