Evernorth Highlights XRP Supply Shock as 7B Tokens Leave Exchanges

A major shift is quietly unfolding in the XRP market, with supply tightening and long-term holders steadily increasing their positions despite months of price weakness.

Recent insights shared by Evernorth point to a strong divergence between price action and investor behavior. While XRP has been in a prolonged downtrend since late 2025, on-chain data suggests accumulation is accelerating among both retail investors and select large holders.

Key Points

• Evernorth says XRP supply is tightening as 7B tokens left exchanges in Feb, per CryptoQuant data.
• Binance led outflows with 3.3B XRP, alongside Bybit and OKX, reducing available sell-side liquidity.
• Retail wallets hit a record 1.1M, adding 520M XRP since Oct 2025 despite a 50% price drop.
• Meanwhile, the available XRP balance on exchanges remains a hot debate.

Billions in XRP Leave Exchanges

One of the clearest signals comes from exchange flows. In February alone, investors reportedly withdrew more than 7 billion XRP from trading platforms, according to CryptoQuant data. The figure marks the largest monthly outflow since November 2025.

Evernorth stressed that this movement is important. It noted that investors typically move tokens to exchanges when they intend to sell. In contrast, withdrawing assets implies a preference to hold.

With such a large volume exiting exchanges, the pool of readily sellable XRP has declined significantly.

4/4 Two things are happening at the same time:

1) The pool of XRP available to sell shrunk earlier this year.

2) The group of holders positioned for the long term is growing.

— evernorthxrp (@evernorthxrp) April 22, 2026

Data shows that Binance accounted for nearly half of these withdrawals, with over 3.3 billion XRP leaving the platform. Other exchanges, such as Bybit and OKX, also recorded notable outflows.

This reduction in liquid supply could become a key factor if demand begins to rise again.

Retail Participation Hits All-Time High

At the same time, retail investors are stepping in at a record pace. Wallets holding between 1,000 and 100,000 XRP have climbed to 1.1 million, the highest level in the asset’s history.

Data from Santiment shows that this segment has grown by more than 77,000 wallets since October 2025. Even more notable is that this growth has occurred during a period when XRP’s price has dropped by over 50%.

The total balance held by these wallets has also increased, rising from 10.04 billion XRP to 10.56 billion XRP. This means retail investors have accumulated roughly 520 million XRP during the downturn, suggesting strong conviction despite negative price momentum.

Mixed Behavior Among Whales

Meanwhile, mid-tier holders, those with between 100,000 and 10 million XRP, have reduced their holdings significantly. Specifically, they have offloaded over 3 billion XRP since October 2025.

However, the largest whales, holding between 10 million and 100 million XRP, have moved in the opposite direction. This group has added more than 3.4 billion XRP over the same period, signaling confidence among high-capital investors.

Daily Accumulation Adds Pressure to Supply

Beyond historical trends, early April data shows that large holders are continuing to accumulate, adding millions of XRP per day.

Combined with shrinking exchange balances, this steady accumulation is reinforcing a tightening supply environment. Fewer coins are readily available for sale, while more investors appear positioned for long-term holding.

Comments on 7B XRP Leaving Exchanges

Meanwhile, some prominent figures in the XRP community, such as Vet and Crypto Eri, have challenged the data on tightening supply. Vet, in particular, pointed out that CryptoQuant data is not always complete.

He explained that many exchanges are not tracked, and that, for some reason, the platform often defaults to Binance for XRP exchange balance data, something tools like Grok may pick up. This has led to the misconception that only 1–2 billion XRP are held on exchanges, which is not accurate.

Furthermore, Vet noted that when looking at how XRP exchange balances have changed since Christmas 2025, there is actually more XRP on exchanges today than before.

He stressed that, in general, the total XRP held across exchanges tends to sit around 15–16 billion. Even that figure may be understated, as new exchange wallets are not always immediately detected.

CryptoQuant Data is unfortunately not always complete.

They don’t track many exchanges and for some reason they default to binance for XRP exchange balance and Grok picks that up. Thus people believed only 1-2B XRP is on exchanges, which is false ofc.

Also they typically don’t… pic.twitter.com/Z2c1t5S4o9

— Vet (@Vet_X0) April 22, 2026