On-chain tracking shows exchanges briefly absorbed the largest single-day XRP deposit wave of 2026 — only for withdrawals to more than erase that inflow and flip the trend. What happened - Analytics firm Santiment flagged a dramatic move in XRP’s Exchange Flow Balance, the on-chain metric that measures the net amount of tokens moving into or out of wallets tied to centralized exchanges. - A positive reading means net deposits to exchanges (often a precursor to selling and therefore bearish); a negative reading means net withdrawals (holders pulling tokens off exchanges, which can signal accumulation and be bullish). The move in numbers - On Thursday, as XRP slid to a local low near $1.27, exchanges saw a huge net inflow of 22.80 million XRP — the largest daily net deposit for the token so far in 2026. Santiment suggests many traders likely deposited to panic-sell at that low. - Shortly after, the trend reversed. Withdrawals accelerated, producing a negative spike of 25.24 million XRP — more than offsetting the earlier inflow as market participants pulled supply off exchanges. Price action - The deposit wave coincided with the local bottom, but the market rebounded afterward; XRP climbed above $1.36 during the recovery before retracing to around $1.30 at the time of reporting. - Santiment noted that those who sold into the bottom may now be regretting it, while the post-bottom withdrawals point to renewed accumulation or repositioning by other holders. Why it matters - Rapid, large-scale inflows to exchanges can indicate selling pressure; big withdrawals tend to tighten available exchange supply and can support price moves higher. - This whipsaw episode underscores how quickly on-chain flows can change market narrative — and how timing of deposits and withdrawals can leave different cohorts of traders on opposite sides of a move. Source: Santiment (X).
XRP On-Chain Flows Show 22.8M Deposits, Then 25.24M Withdrawals in 2026
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Summary
On-chain data from Santiment shows a sharp reversal in XRP’s Exchange Flow Balance on June 2, 2026. Exchanges recorded 22.80 million XRP in deposits, the highest daily inflow of the year, as the price dipped near $1.27. On-chain analysis reveals that 25.24 million XRP were withdrawn the following day, shifting flows to net outflows. The price rose to $1.36 before falling back to $1.30, with Santiment noting the change may indicate panic selling followed by accumulation.
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