XRP exchange flow patterns are shifting after weeks of steady deposit pressure centered on Bybit, according to new analysis from CryptoQuant.
CryptoQuant’s XRP Multi-Exchange Daily Depositing/Withdrawing Transactions Delta shows that Bybit’s transaction delta moved back toward neutral around May 16, ending a streak of strong positive readings that ran from mid-April through mid-May.
XRP Exchange Behavior Flips
Persistent deposit-side activity is often interpreted as potential selling pressure because assets sent to exchanges are more accessible for trading or liquidation. Based on transaction counts, that deposit pressure has eased.
As Bybit’s earlier deposit imbalance subsided, Binance and Coinbase began to show the opposite trend: withdrawals overtook deposits on both exchanges. This marks a significant change from the prior exchange-flow structure, which had been dominated by Bybit deposits.
The market setup for XRP has therefore shifted. Exchange activity no longer reflects the broad deposit pattern seen over the last month. Instead, flows appear to be rotating—Bybit activity cooling while Binance and Coinbase exhibit stronger withdrawal-side behavior.
CryptoQuant noted that the metric tracks transaction delta rather than the total amount of XRP transferred, so it does not disclose the exact volume of tokens moving on or off exchanges. Even so, the directional change is meaningful because it highlights a clear shift in transaction behavior across several major trading platforms.
Tightening Price Range and Potential Volatility
Alongside the changing exchange dynamics, technical indicators point to a possible increase in XRP volatility.
Crypto analyst Ali Martinez observed that XRP’s Bollinger Bands on the 3-day chart have compressed to their tightest level in more than a year, suggesting the potential for a significant move. XRP has traded in a range between $1.29 and $1.50 for months. Martinez suggested that a decisive close above $1.50 could push XRP toward $1.80, while a break below $1.29 might trigger deeper downside pressure.
On the institutional front, XRP showed resilience amid broader market weakness. Reports indicate that while investment products focused on Bitcoin and Ethereum experienced notable outflows, XRP recorded inflows exceeding $67 million last week, underscoring differentiated demand dynamics compared with other major crypto assets.