XRP Exchange Flow Shifts as Bybit Deposit Wave Ends, Binance and Coinbase Turn Negative

TLDR:

• Bybit’s XRP transaction delta returned close to zero around May 16, ending a month-long deposit trend.
• Sustained deposit activity on Bybit from mid-April to mid-May signaled potential sell-side pressure.
• Binance and Coinbase have shifted back to negative delta, meaning withdrawals now outpace deposits.
• The metric tracks transaction count, not token volume, offering a directional but partial market view.

XRP exchange-flow behavior is showing a notable shift across major trading venues. After weeks of persistent deposit activity on Bybit, the platform’s transaction delta returned close to zero around May 16.

Meanwhile, Binance and Coinbase have moved back into negative territory. This change reflects a clear rotation in exchange behavior, suggesting that the broad selling pressure seen during the mid-April to mid-May period has cooled considerably.

Bybit’s Month-Long Deposit Trend Comes to a Halt

XRP deposit activity on Bybit remained consistently elevated from mid-April through mid-May. During that stretch, the exchange recorded strong and persistent positive readings in its transaction delta.

Sustained deposit-side activity is often associated with potential sell-side pressure in crypto markets. Coins moving into exchanges are typically more available for trading or liquidation.

The shift became apparent around May 16, when Bybit’s delta returned near zero. That move marked a clear break from the previous pattern of heavy deposit imbalance.

On a transaction-count basis, the deposit pressure that defined the prior period has now faded. This change removes one of the more visible sources of supply-side activity in recent weeks.

Crypto analyst Amr Taha shared the observation based on the XRP Multi-Exchange Daily Depositing/Withdrawing Transactions Delta. The data tracks transaction counts rather than total token volume.

So it does not confirm exact amounts of XRP moved in or out. However, the directional shift across multiple venues remains a notable development.

The end of Bybit’s deposit wave does not guarantee a price move in either direction. Rather, it removes a layer of exchange-side pressure that was present for roughly a month.

Traders watching supply dynamics will likely monitor whether this neutral reading holds or reverses in the coming sessions.

Binance and Coinbase Withdrawal Activity Points to a Different Flow Structure

As Bybit’s deposit activity cooled, Binance and Coinbase moved back into negative delta territory. Negative readings indicate that withdrawal transactions are now outweighing deposit transactions on those platforms.

This is a different flow structure compared to what was seen during the Bybit-led deposit phase. The shift suggests coins are moving away from those exchanges rather than toward them.

Withdrawal-side behavior on major exchanges like Binance and Coinbase can reflect reduced near-term selling intent. When more tokens leave an exchange than enter, available supply on that platform tends to tighten.

That dynamic, when sustained, can shift the balance between buyers and sellers over time. However, short-term readings should be interpreted carefully without additional context.

The combination of Bybit cooling and Binance and Coinbase turning negative creates a different setup for XRP. The market is no longer showing the same broad exchange-deposit pressure from the prior period.

Instead, a rotation in flow behavior is now visible across major venues. This metric tracks transaction direction, making it a useful but partial view of overall market activity.

The post XRP Exchange Flow Shifts as Bybit Deposit Wave Ends, Binance and Coinbase Turn Negative appeared first on Blockonomi.