From Coinpedia · By Shubham Vishwakarma
Story HighlightsXRP withdrawal transactions reached 55.75% on Binance and 54.85% across centralized exchanges, approaching their August highs.
Binance's whale-versus-retail spread climbed to 49.5%, compared with 29.7% across centralized exchanges, highlighting a stronger relative concentration of whale-related activity.
The Federal Reserve's October 28 policy decision could influence XRP's next move as traders look for signs of improving market momentum.
XRP is showing potentially bullish signals in exchange activity ahead of the Federal Reserve’s October 28 interest-rate decision. Withdrawal transactions are approaching their August highs, while deposit shares are nearing previous lows, indicating that withdrawals account for a growing proportion of exchange transactions.
XRP Withdrawals Approach August Highs as Exchange Deposits Decline
XRP’s exchange transaction mix is shifting toward withdrawals, providing a potentially encouraging signal for the token’s supply dynamics. On October 25, withdrawals accounted for 55.75% of XRP deposit and withdrawal transactions on Binance, approaching the August 18 high of 56.75%. Across centralized exchanges, the withdrawal share reached 54.85%, close to its previous peak of 55.4%.
Meanwhile, Binance’s deposit share declined to 44.25%, nearing its August low of 43.25%. Across all centralized exchanges, deposits accounted for 45.15%, compared with the previous low of 44.5%. This shift suggests that withdrawals are accounting for a larger share of XRP’s exchange transactions. If the trend continues alongside declining exchange balances, it could indicate that less XRP is immediately available for trading on centralized platforms.
XRP Whale Activity Strengthens as Binance Spread Reaches 49.5%
Another development is the widening gap between Binance’s whale-versus-retail spread and the corresponding reading across the broader centralized exchange market. On October 26, Binance’s spread reached 49.5%, compared with 29.7% across all centralized exchanges. The difference of 19.8 percentage points highlights a stronger relative concentration of whale-related withdrawal activity on Binance.
The gap was considerably smaller on July 28, when Binance registered 35.5% and the broader exchange market recorded 33%, leaving a difference of just 2.5 percentage points. Combined with the withdrawal-heavy transaction mix, the data provide a potentially constructive signal for XRP’s market structure. Sustained net exchange outflows and stronger spot demand would offer further support for this interpretation.
Fed Decision Could Provide the Next Catalyst for XRP
The Federal Reserve’s October 27–28 meeting is another important event for cryptocurrency markets. Investors are watching the interest-rate decision and policymakers’ guidance for clues about financial conditions and demand for risk-sensitive assets.