[DigitalToday reporter Jinju Hong] Large XRP holders, known as whales, are withdrawing coins from centralised exchanges faster than retail investors, data showed.

Blockchain media outlet Decrypt reported on June 30 that the gap in exchange withdrawals between XRP whales and retail investors has widened sharply in recent weeks.

CryptoQuant data and cryptocurrency analyst Amr Taha showed the 7-day moving average spread between XRP whales and retail investors continued to rise. Across all centralised exchanges, the indicator climbed 24.9 percentage points to 50.9 percent on June 29 from 26.0 percent on May 6.

The indicator measures the difference in exchange outflows between large transactions of more than 100,000 XRP and transactions of 100,000 XRP or less. A higher reading means whales are withdrawing XRP from exchanges more actively than retail investors.

The recent trend suggests that while retail investors remain on the sidelines amid ongoing price volatility, large holders are stepping up moves to shift assets off exchanges. The analysis assessed that whale-sized exchange withdrawals are increasingly becoming the dominant trend across centralised exchanges.

Still, the data alone cannot determine whales' ultimate目的. XRP leaving exchanges could be self-custody in personal wallets, or it could be transfers to institutional custody services or fund movements for internal operational purposes. Decrypt drew a line, saying large exchange outflows do not necessarily imply a single 목적.

On-chain data also captured another change. The XRP Ledger (XRPL) recently showed a rising trend in active receiving addresses. That means the number of unique wallets receiving XRP is increasing, which is interpreted as a sign supporting the possibility that some tokens leaving exchanges moved to self-custody wallets.

Binance showed a different trend from the broader market. Binance's XRP whale-to-retail investor spread fell 17.4 percentage points to 44.6 percent on June 29 from 62.0 percent on June 11. That was 6.3 percentage points lower than the cross-exchange average of 50.9 percent.

That shows whales are still moving XRP off exchanges more actively than retail investors, but withdrawals are being spread across other centralised exchanges rather than concentrating on Binance alone.

Large XRP movements also showed Binance's share has declined from earlier levels. The market is focusing on whether whale funds will continue to disperse across multiple platforms rather than concentrate on a specific exchange, and whether growth in self-custody wallets will persist, as key variables for gauging future XRP supply and demand.