Binance XRP Reserves Fall to 2.6 Billion

Binance’s monthly average XRP reserves have declined from about 3.1 billion in November 2025 to 2.6 billion, according to a Cryptoquant assessment by contributor Darkfost, shared on X on Sept. 1. The latest average matches a level last recorded around February 2024. The 500 million figure represents the net change across the period, not one identified withdrawal.

The contraction continued while XRP completed August with a gain of nearly 30%, according to the analysis, which placed the token near $1.35 on Sept. 1, about 63% below its cited high of $3.66. The accompanying chart shows Binance’s 30-day reserve average declining broadly alongside XRP’s retreat from its 2025 price peak. As of writing, the token has moved higher, trading at $1.45 after gaining 8% over 24 hours.

Cryptoquant summarized the finding in a Sept. 2 post on X, emphasizing the longer-term interpretation rather than an immediate price forecast, stating:

“This sends a relatively positive signal for XRP, although this dynamic is more relevant from a long-term perspective than in terms of having a direct impact on the price in the short term.”

Lower Reserves May Reflect Changing Holder Behavior

Declining exchange balances can occur when customers withdraw tokens, although reserve totals do not establish who controls the destination wallets or why assets moved. Earlier XRP withdrawal activity on Binance showed withdrawals exceeding deposits by transaction count for seven consecutive days in June. That indicator measured transaction frequency, while the latest reserve series measures Binance’s estimated XRP balance.

One explanation identified by the analysis is longer-term accumulation, with holders transferring XRP away from the exchange. Investors using self-custodial wallets control their private keys instead of leaving assets under an exchange’s custody. Such transfers would reduce reported exchange reserves, but a blockchain movement alone does not confirm an investor’s holding period or intent.

Reserve behavior around price movements adds another layer to the interpretation of the smoothed monthly series. The analysis observed that Binance’s XRP reserves tended to increase during rebounds before declining again during subsequent retracements. The monthly average introduces a lag, limiting comparisons between a specific day’s price movement and the reserve reading displayed for the same period.

Spot XRP ETFs Add Another Possible Source of Demand

Spot XRP exchange-traded funds (ETFs) could also have contributed to demand after their late-2025 launches, according to the analysis. The products included offerings from Canary Capital, Bitwise, Franklin Templeton, Grayscale, and 21Shares. As one example, Bitwise launched its XRP fund on NYSE Arca on Nov. 20 and stated that the product would hold spot XRP. Those launches fell within the period when Cryptoquant’s Binance reserve average began its sustained decline.

ETF-related buying cannot be equated directly with the 500 million XRP reduction measured on Binance. Fund sponsors and authorized participants may obtain tokens through multiple venues, market makers, custodians, or over-the-counter transactions. Exchange-linked XRP balances can also reflect customer deposits, custody arrangements, or other wallets controlled by the platform rather than a single source of market demand. A recent review of major XRP wallets showed how exchange holdings and escrow structures can complicate conclusions drawn from wallet balances alone.

Institutional XRP holdings nevertheless expanded as Binance’s reserve average moved lower during 2026. The Bitwise XRP ETF, for example, reached $502.7 million in net assets as of Aug. 27 and held nearly 364.8 million XRP. Its token holdings had increased by approximately 78 million XRP from June 30 through Aug. 27.

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While leading crypto assets like bitcoin, ethereum, solana, and several other top 20 contenders saw gains, massive spikes came from a slew of digital assets. The largest gain was a meme coin known as non-playable coin (NPC), which is trading for $0.01650 and rising 206% over the last 30 days. The native cryptocurrency of the Helium Network, helium (HNT), surged by 188.70% in the same timeframe.

NPC, PROM, DOG, and PUMP Join August’s Breakout Pack

In third place over the 30-day window, the coin associated with the Prometeus Network, prom (PROM), was also a triple-digit gainer with a rise of 154.09%. This month saw the rise of another meme coin, issued on the Bitcoin blockchain, dog (DOG), as it rose 96.65%. The meme coin launchpad platform Pump.fun’s native coin PUMP jumped 96.15%, and the layer two (L2) coin stacks (STX) managed to rise 88.05%.

Alongside this action, Curve DAO the decentralized autonomous organization (DAO) that governs Curve Finance, saw its native coin CRV spike by 75.48%. This was followed by the digital asset mina protocol (MINA), which logged a 75.48% gain. Rounding out the top ten performers, crypto assets such as convex finance (CVX) increased by 72.40%, and the token called multiversx (EGLD) posted a 71.74% gain against the greenback.

KAITO Crashes 67.87% as August Leaves Some Coins Behind

Not all had a joyous August as a slew of digital currencies recorded double-digit declines. KAITO experienced the most significant drop this past month, losing 67.87% of its value. Centrifuge (CFG) also took a brutal hit, losing 40.30% against the U.S. dollar. The privacy coin known as zano (ZANO) did not follow in the footsteps of privacy contenders like ZEC and XMR as it lost 24.17%.

The downward trend continued with jito (JTO) as the crypto coin lost 15.06% over the 30-day timeframe. Markets also saw ultima (ULTIMA) shed 13.81%, and zigchain (ZIG) lose around 12.78% since the start of August. Meanwhile dexe (DEXE) and the digital asset dubbed data network and the ticker DATA experienced declines of 11.91% and 11.14%, respectively. The ninth and tenth biggest 30-day losers include SOON, which fell by 10.53%, and the Tron-issued sun token (SUN), as it posted a 10.28% decrease during the broad crypto rally in August.

September’s Bearish History Looms Over the Crypto Rally

Here’s what we know going forward. Bitcoin and the rest of the gang do not have a solid history of gains in September, and typically, the month is filled with bearish BTC declines and liquidations. Approximately 8 out of the last 13 years, bitcoin’s price has ended in the red, and historically, altcoins follow BTC’s downturns. That means September is a bad month for markets 61.54% of the time so far, but of course, that could change.