Binance's XRP reserves have dropped to multi-year lows, falling from roughly 3.05 billion tokens to below 2.75 billion over the past year. At the same time, the number of wallets holding at least 10,000 XRP just hit a fresh all-time high of 332,000. The divergence is raising eyebrows — and one crypto pundit is warning that exchanges could face a liquidity crunch if the trend keeps up.
Binance’s shrinking XRP pile
The exchange’s reserve decline isn’t subtle. On-chain data shows Binance’s XRP stash slipped from about 3.05 billion to under 2.75 billion in less than 12 months, hovering near levels not seen in years. The 30-day cumulative whale inflow indicator — a measure of large holders moving tokens into exchanges — also fell below 736 million XRP, its lowest since November 2021. That suggests whales aren't rushing to sell into the order books, at least not through Binance.
Whale accumulation hits record highs
While the exchange’s balance shrinks, the opposite is happening in self-custody wallets. Addresses with at least 10,000 XRP now number 332,000, a new record. That’s more wallets than ever holding a meaningful stack off-exchange. Combined with the drop in exchange reserves, the data paints a picture of steady accumulation by larger holders rather than distribution.
What a reserve drain could mean
One crypto commentator has predicted that if the outflow continues, exchanges could run out of XRP entirely, triggering a liquidity crisis. The same pundit suggested Ripple itself might step in — deploying its own corporate reserves as a liquidity pool and issuing derivative contracts to keep markets functional. Ripple hasn't commented on that scenario, and there's no public indication it's planning such a move. But with XRP’s circulating supply sitting at roughly 61.82 billion tokens per CoinMarketCap, even a moderate shift in exchange inventory can have outsized effects on spot availability.
Whether the accumulation is organic demand or strategic positioning ahead of a catalyst is unclear. What's certain is that the reserve drain is accelerating, and the clock is ticking on whether Binance — or the broader market — will need to adjust.
