XRP whale-sized transfer activity is becoming more prominent across the wider centralized exchange market, while Binance is showing the opposite trend.

The 7-day moving average of the XRP Whale vs Retail Spread across all centralized exchanges climbed from 26.0% on May 6 to 50.9% on June 29, a gain of 24.9 percentage points.

The reading indicates that large XRP transfers are accounting for a substantially larger share of exchange outflows relative to retail-sized transfers than they did in early May.

By contrast, Binance’s Whale vs Retail Spread fell from 62.0% on June 11 to 44.6% on June 29, down 17.4 percentage points.

Binance now sits 6.3 points below the broader all-CEX reading of 50.9%.

The Whale vs Retail Spread measures the percentage-point difference between XRP outflow volume generated by transfers above 100,000 XRP and transfers of 100,000 XRP or less.

A higher reading means whale-sized transfers represent a larger share of total exchange outflow activity compared with retail-sized transfers.

The divergence suggests that large XRP transfer activity is becoming less concentrated on Binance and more visible across other exchanges.

While the metric does not by itself confirm accumulation, selling pressure, or wallet restructuring, the split highlights a notable shift in where XRP whale-sized outflows are occurring.

Written by Amr Taha