Coinbase withdrawals 3.7 times...Binance whales, transactions over 1 million XRP surpass 55%

▲ XRP

The withdrawal patterns of XRP whales diverged in opposite directions on Binance and Coinbase (COIN). The proportion of transactions exceeding 1 million XRP showed a 40.3 percentage point difference between the two exchanges.

According to The Crypto Basic, a specialized cryptocurrency media outlet, on August 4 (local time), CryptoQuant analyst Amr Taha analyzed withdrawal transactions of 100,000 XRP or more that occurred on both exchanges on August 3. On Binance, transactions exceeding 1 million XRP accounted for 55.3% of the total daily XRP withdrawals. This is the highest proportion since approximately 56% recorded on June 30.

On Coinbase, the proportion of transactions exceeding 1 million XRP was only 15%. This was significantly lower than the 36% recorded on July 2. By the same standard, Binance's proportion was 40.3 percentage points higher than Coinbase's, with the difference reaching approximately 3.7 times.

In mid-sized withdrawals, the trend reversed. Coinbase's proportion of 100,000 to 1 million XRP transactions increased by 20.8 percentage points, from approximately 35% on June 1 to 55.8% on August 3. On Binance, transactions of the same size accounted for 24.5%. Both exchanges had a primary transaction range accounting for about 55%, but Binance focused on transactions over 1 million XRP, while Coinbase focused on transactions between 100,000 and 1 million XRP.

Transactions of 100,000 XRP or more accounted for 79.8% of Binance's total withdrawals and 70.8% of Coinbase's. However, these figures only show the proportion of withdrawals by transaction size. The total amount of XRP withdrawn from exchanges, the net outflow, the identity of holders, and the movement paths after withdrawal cannot be confirmed. No basis was provided to conclude that exchange withdrawals represent whale accumulation or long-term holding.

The price trend remained below key resistance levels. The daily Moving Average Convergence Divergence (MACD) indicator turned negative, and XRP showed weakening short-term momentum below the 20-day exponential moving average located at $1.08. To strengthen the rebound trend, it needs to hold above $1.05, recover $1.083, and close above $1.1. If $1.048 breaks, the liquidity zone of $1-$1.008 is the next support level, while on the upside, $1.2-$1.25 was suggested as a major resistance zone.

[Article Key Summary]

-The proportion of Binance's withdrawal transactions exceeding 1 million XRP was 55.3%, which was 40.3 percentage points higher than Coinbase's 15%.

-On Coinbase, the proportion of withdrawals in the 100,000 to 1 million XRP range rose to 55.8%, with mid-sized transactions taking center stage.

-This indicator only shows the proportion of withdrawals by transaction size, and the total net outflow or purpose of withdrawal cannot be confirmed.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*