XRP is showing a clear trend of leaving major cryptocurrency exchanges.

On Aug. 5 (local time), blockchain outlet The Crypto Basic reported that XRP net inflow-outflow wallet indicators at Coinbase, Binance and Crypto.com all stayed in negative territory.

A negative reading means there are more wallets withdrawing XRP to external destinations than sending it to exchanges. The measure counts the number of wallets taking part in deposits and withdrawals rather than transaction amounts, showing how broadly withdrawal activity has spread among users. The market sees this as a sign that longer-term holding is strengthening rather than short-term selling.

The biggest change appeared at Coinbase. CryptoQuant analyst Amr Taha (아므르 타하) said Coinbase’s seven-day net inflow-outflow wallet indicator stood at -10,900 as of Aug. 4. That means there were 10,900 more withdrawal wallets than deposit wallets. In absolute terms, it is about 3.4 times the previous low of -3,200 recorded in June 2025.

The trend was not limited to Coinbase. Taha said Coinbase, Binance and Crypto.com all entered negative territory around July 17 and maintained the trend through early August. With withdrawal dominance appearing simultaneously across multiple exchanges, he said it can be seen as a broader market move.

Binance’s reading stood at -2,550 as of Aug. 4. That is higher than its June 2025 low of -4,380. Crypto.com posted -2,290, above -4,470 recorded in June last year. Taha, however, focused on the fact that all three exchanges showed negative readings at the same time.

Price action, by contrast, was subdued. In a separate analysis, CryptoQuant analyst Arab Chain (아랍 체인) said XRP’s 30-day realised volatility on Binance fell to about 0.34. That is the lowest level in the past three months. At the time of the analysis, XRP was trading around $1.07.

Arab Chain said daily price swings in XRP have fallen sharply compared with June. He said periods of declining realised volatility often overlap with phases when speculative trading weakens and excessive reactions driven by fear and greed diminish. He also raised the possibility that buyers and sellers may be in a temporary balance while waiting for a new catalyst.

Shrinking volatility does not by itself mean a rise or a fall. He said there are many cases where markets move in a narrow range for a long period before a sharp price move occurs. He cited major issues, rising trading volume, shifts in investor sentiment and position moves in derivatives markets as factors that could increase volatility again.

In the XRP market, more wallets are moving assets off exchanges while price volatility has fallen to a three-month low. The analysis said that if withdrawal dominance and lower volatility continue, a new catalyst could lead to a large directional move either way.