XRP exchange supply drops by over 3 billion tokens in 14 months

The XRP exchange supply has declined sharply over the past 14 months, thereby reducing the sellable amount as of April 23.

Since February 24, 2025, the available supply of XRP on 41 cryptocurrency exchanges has declined by more than 3 billion tokens, reaching roughly 16 billion at press time, according to on-chain data from X user @Chachakobe4er. As such, the sellable supply of this token on 41 crypto exchanges dropped by 16% during this period.

In the past 24 hours, XRP investors withdrew approximately 3.33 million tokens, valued at about $4.69 million at the time of reporting. The largest crypto exchange in South Korea, Upbit, holds the biggest supply, with about 6.47 billion. Binance, Bithumb, and Uphold followed with XRP supply of around 2.54 billion, 1.82 billion, and 1.64 billion, respectively, at the time of publication.

XRP supply drops fueled by whales’ demand

The net supply of XRP on 41 cryptocurrency exchanges fell by 16% in 14 months, fueled by the rising demand from whale investors, likely institutions. Furthermore, the token has gained greater regulatory clarity under the Trump administration, thereby increasing its share of global cross-border payments through Ripple Labs’ products.

Long-term XRP holders – investors with account balances of between 1,000 and 100,000 tokens – have increased to 1.1 million. This group of investors added about 11 million tokens per day in early April, according to data from Santiment shared by Evernorth Holdings.

The largest monthly outflow of this altcoin since November 2025 occurred in February, when investors withdrew roughly 7 billion tokens from crypto exchanges. Earlier this month, the U.S. spot XRP exchange-traded funds (ETFs) registered their largest weekly cash inflow since mid-January, as Finbold pointed out.

Why is the token’s price down?

Despite the notable demand for XRP since early 2025, the token’s price dropped by over 36% to trade at $1.42 on Thursday.

The main reason why the token dropped amid rising whale demand was due to reduced liquidity, especially in the derivatives market.

Notably, the token’s Open Interest (OI) – its total open positions across all exchanges – has never recovered since the October 11 crypto crash, as per metrics from CoinGlass.