XRP whales have been pulling their holdings off centralized exchanges at a rising pace, and on-chain data shows the shift is concentrated in wallets large enough to move the market.

According to CryptoQuant's exchange-flow records, whale-sized transfers accounted for 84.2% of all XRP outflows from Binance on September 29. The reported withdrawals, published by COINOTAG on October 5, 2026, total 104.7 million XRP and span two of the industry's largest trading venues: Binance, the world's biggest cryptocurrency exchange by trading volume, and Upbit, one of South Korea's leading digital asset platforms.

Exchange flows are among the most closely monitored metrics in on-chain analysis. Tokens held on exchange-controlled wallets are immediately available for trading, whereas coins moved off-platform are generally transferred to private, self-custodied addresses. Balances moved into self-custody no longer sit in exchange-controlled wallets, so withdrawals of this size shrink the amount of XRP immediately available for trading on the platforms involved — one reason on-chain analysts follow these figures so closely. Analytics firms such as CryptoQuant track these movements by identifying clusters of addresses linked to major exchanges and measuring the size and direction of transfers into and out of them.

XRP is the native digital asset of the XRP Ledger, a payment-focused blockchain that went live in 2012. Because the token trades on virtually every major centralized exchange, large movements of XRP to or from platform wallets are visible on the public ledger and are routinely tracked by analysts and market observers.

The concentration of recent outflows among whale-sized wallets highlights the scale of the individual transactions behind the total. The September 29 reading shows that the overwhelming majority of XRP leaving Binance that day came from large holders rather than smaller accounts, based on CryptoQuant's exchange-flow data. Subsequent exchange-flow readings will show whether large-holder withdrawals continued in the days after September 29.

This content was first published on COINOTAG: https://en.coinotag.com/xrp-whales-withdraw-104-7-million-xrp-binance-upbit