Bullish XRP Signals Emerge After Prolonged Sell-Off
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Bybit's XRP deposit dominance faded significantly as withdrawal transactions overtook deposits on Binance and Coinbase during the latest exchange rotation.
XRP exchange-flow activity is beginning to show a different pattern after several weeks of steady deposit pressure centered on Bybit, according to new analysis from CryptoQuant.
Data from the XRP Multi-Exchange Daily Depositing/Withdrawing Transactions Delta shows that Bybit’s transaction delta moved back close to neutral around May 16 and ended a stretch of strong positive readings that had continued from mid-April through mid-May.
XRP Exchange Behavior Flips
Persistent deposit-side activity is often viewed as a sign of possible selling pressure because assets transferred onto exchanges are generally more accessible for trading or liquidation. This indicates that the pressure has now eased, at least based on transaction count data.
While Bybit’s earlier deposit imbalance appears to have faded, Binance and Coinbase are now showing the opposite trend, as withdrawal transactions overtook deposits on both exchanges. This is a major change from the earlier exchange-flow structure dominated by Bybit deposits.
The setup for XRP has therefore changed, as the market is no longer displaying the same broader exchange-deposit activity seen over the past month. Instead, exchange behavior now points to a rotation in flows, as Bybit cools off while Binance and Coinbase experience stronger withdrawal-side activity.
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