418.5 Million XRP Leave Binance in Largest Daily Outflow in 9 Months
Key Facts
A total of 418.5 million XRP was withdrawn from Binance on November 4, the largest daily outflow of the token from the exchange in 9 months, according to CryptoQuant analyst Darkfost. The platform valued the amount at about $540 million. CryptoQuant said the withdrawal exceeded the 315 million XRP that left Binance on October 29. That puts the November 4 movement at the top of the daily outflows tracked by the source during the period cited. The figures highlight a reduction in the amount immediately available for sale on the exchange, without identifying the coins' destination or the reason for their transfer.
The move came after XRP rebounded above $1.30, following a 27% correction from its late-September high, according to CryptoQuant. This sequence places the large withdrawal in the context of a price recovery that preceded the move, rather than a sustained rise established by the data. The source said an outflow of this size reduces the supply immediately available for sale on trading platforms. Large outflows have historically often been read as a sign of accumulation. But that interpretation does not prove that investors bought the coins or moved them to cold-storage wallets.
CryptoQuant cautioned that outflows do not guarantee a price increase, as some may reflect internal transfers between the exchange's wallets. A single day's reading therefore does not prove that Binance's XRP balances have fallen sustainably or that a broader shift in its reserves has occurred. The figures provided also do not reveal who carried out the withdrawal or where the coins went. The interpretation of the event depends on distinguishing recorded asset movements on the exchange from an inference about an intention to hold the coins. CryptoQuant said some of the movement may have resulted from internal operations at the exchange itself.
Across the broader market, CryptoQuant said the market capitalization of cryptocurrencies excluding Bitcoin and stablecoins rose by about $30 billion on the day after the midterm elections. It described the move as a gain that day for the group of coins tracked by the TOTAL2 index. Reuters, by contrast, reported that cryptocurrencies briefly fell on November 4, as Democrats won majorities in both the Senate and House of Representatives amid concerns about the outlook for digital-asset regulation. This context presents two consecutive market snapshots around the withdrawal: a brief decline on election day, followed by a gain in the market capitalization of altcoins the next day. The sources do not attribute XRP's individual move to any specific political cause.
Binance had announced that it would resume XRP withdrawals as part of the reopening of withdrawals across several networks, with the restart set for November 3 at 04:00 GMT, according to Reuters. That timing puts the resumption one day before the November 4 outflow. In a separate institutional development, Ripple announced on October 27 that it was expanding its collaboration with BNY, saying the bank's custody platform supports XRP and RLUSD. Ripple added that BNY intends to expand support for tokenized assets and investment products issued on the XRP Ledger, and to work with Ripple on issuing and redeeming RLUSD directly for the bank's clients. The move provides institutional context for the asset, but does not establish a link to the withdrawal recorded at Binance.
As for subsequent price action, Investing.com reported on November 6 that XRP fell 10.02% during the day, recording its largest daily percentage loss since February 5, 2026. The report added that the token had fallen 5.93% over the previous seven days and was 67.67% below its all-time high of $3.66, recorded on July 18, 2025. This later reading sets limits on what can be inferred from the November 4 withdrawal: the large outflow did not prevent a sharp daily loss in a later session. CryptoQuant said the point to watch is whether outflows continue over the following days or remain an isolated jump. According to the source, the next indicator is whether the movement continues or stops.