On-chain data from CryptoQuant and analyst Darkfost indicates that XRP outflows from Binance to large-holder wallets hit a 90-day moving average of approximately $49.7 million as of October 20, 2026. This figure represents a five-year low for the metric, marking the weakest level since October 2021.
The current accumulation rate contrasts sharply with historical data. In February 2025, the same 90-day measure reached a peak of roughly $3.5 billion, with multiple instances during that period where outflows surpassed $10 billion.
In late September 2026, large holders accounted for about 82% of total centralized exchange outflows. Additionally, in the weeks preceding October 20, combined reserves on Binance and Upbit declined by approximately 104.7 million XRP.
Analysts suggest that the current slowdown in accumulation is linked to the relative price resilience of XRP during the ongoing bear market. Large holders appear to be waiting for more favorable entry points before increasing their positions.
