Binance and Crypto.com also stayed in negative territory from July 17 into August, pointing to sustained withdrawal-side activity across major exchanges rather than a volume-based outflow spike.
XRP withdrawal-wallet activity strengthened across several major exchanges in early August, with Coinbase posting the most extreme reading. On August 4, Coinbase’s seven-day net depositing/withdrawing wallets metric fell to -10,900, meaning withdrawing wallets exceeded depositing wallets by 10,900. That was about 3.4 times deeper than Coinbase’s previous low of -3,200 in June 2025. The pattern was not confined to one venue: Coinbase, Binance and Crypto.com all turned negative on July 17 and remained there into August, signaling a sustained rise in withdrawal-side wallet participation across exchanges. Binance reached -2,550 on August 4, its weakest reading since June 2025, when it touched -4,380, while Crypto.com fell to -2,290, also its lowest level since June 2025 versus a prior low of -4,470. Although Binance and Crypto.com have not broken their June 2025 extremes, their simultaneous decline adds weight to the broader cross-exchange signal. The metric tracks the number of depositing and withdrawing wallets, not XRP transfer volume, so it reflects the breadth of wallet behavior rather than the monetary size of exchange outflows.