XRP has recently fallen, but on-chain and exchange data still show different signals. The XRP reserves of Binance have decreased by about 500 million since November 2025, dropping to around 2.6 billion, returning to the level near the beginning of 2024.

Exchange reserves continue to decline

The average monthly XRP reserve has decreased from approximately 3.1 billion in November 2025 to the current 2.6 billion. darkfost Analysts believe that this change may indicate that some investors have transferred XRP to private wallets, and it could also be related to the market buying activity after the launch of the spot XRP ETF.

ETF is still making a fortune.

U.S. spot XRP ETF recently recorded a weekly net inflow of $130.5 million, with a cumulative net inflow of about $1.68 billion. The article suggests that the issuer of ETF may be buying XRP in the market to meet the product holding requirements.

Historical trends have drawn attention.

The article review states that after a similar decline in reserves in February 2024, XRP rose from around $0.52 to $0.78 within two to three weeks, with an increase of over 50%. However, XRP also experienced a pullback subsequently, and its latest price has fallen from last week's high to around $1.31.

Liquidity settlement pressures emerged simultaneously.

The related settlement amount for XRP reached 8.83 million US dollars, of which the long position settlement was approximately 8.15 million US dollars. darkfost believes that the decline in Binance reserves is still positively inclined for the long-term trend, but the short-term price reaction is more influenced by market sentiment.