XRP withdrawals are making up a growing share of exchange transactions as the Federal Reserve's October 28 rate decision approaches. Binance also shows a stronger relative concentration of whale-related withdrawal activity. The data offer a potentially bullish signal, according to Coinpedia.
XRP exchange data is showing potentially bullish signals ahead of the Federal Reserve's October 28 interest-rate decision. Withdrawal transactions are approaching their August highs, while deposit shares are nearing previous lows.
XRP withdrawals approach August highs
On October 25, withdrawals accounted for 55.75% of XRP deposit and withdrawal transactions on Binance, close to the August 18 high of 56.75%. Across centralized exchanges, the withdrawal share reached 54.85%, near its previous peak of 55.4%.
Deposits moved the other way. Binance's deposit share declined to 44.25%, nearing its August low of 43.25%, and deposits across all centralized exchanges stood at 45.15%, against a previous low of 44.5%. If the trend continues alongside declining exchange balances, it could indicate that less XRP is immediately available for trading on centralized platforms.
Binance whale spread widens to 49.5%
The gap between Binance and the wider market has also grown. On October 26, Binance's whale-versus-retail spread reached 49.5%, compared with 29.7% across all centralized exchanges. The difference of 19.8 percentage points points to a stronger relative concentration of whale-related withdrawal activity on Binance.
That gap was considerably smaller on July 28, when Binance registered 35.5% and the broader market recorded 33%, a difference of just 2.5 percentage points. Sustained net exchange outflows and stronger spot demand would offer further support for a constructive reading of XRP's market structure.
The Fed meeting as the next catalyst
The Fed meets on October 27-28, and investors are watching the interest-rate decision and policymakers' guidance for clues about financial conditions and demand for risk-sensitive assets.
Traders will assess whether XRP's changing exchange dynamics can translate into stronger buying momentum. Renewed spot demand after the decision could further improve recovery prospects for the token.
Source: Coinpedia Fintech News
Trading involves risk.
Risk Disclaimer
