A key on-chain metric tracking XRP’s large holder activity has returned to a level last seen in early May. BSC News posted the data, which is drawing attention from community members who see it as a sign of structural change in how XRP flows through Binance.
The Data Behind The Shift
According to BSC News, CryptoQuant analyst Amr Taha reported that XRP’s Binance Whale vs. Retail Spread dropped to 35.1% on July 16. That figure nearly matches the 35.6% recorded in early May. The metric tracks the activity gap between large holders and retail participants on Binance. A declining spread means the two groups are behaving more similarly on the exchange.
Taha also noted that the All CEX Whale vs. Retail Spread now sits 3.3 percentage points above Binance’s reading. This comes just weeks after it almost hit 51%%. That gap between Binance and the broader exchange market signals a change in Binance’s market structure.
XRP Whale-Retail Gap Shrinks On Binance$XRP's Binance whale versus retail spread fell to 35.1% on July 16, nearly matching the 35.6% recorded in early May, CryptoQuant analyst Amr Taha said.
The All CEX whale retail spread now exceeds Binance by 3.3 percentage points,… pic.twitter.com/FHRDEOflBg
— BSCN (@BSCNews) July 17, 2026
How The Metric Works
The spread measures activity levels, not direction. Taha explained that the indicator measures the activity gap only. It does not confirm whether whales are buying or selling. That distinction matters for anyone concluding near-term price movement.
What the data does show is convergence. Whales and retail activity on Binance are moving close together. That kind of alignment has historically preceded meaningful price action, though the direction remains open.
Community Takes Note
Members of the XRP community offered their read on the development. One observer noted that the narrowing gap suggests whale and retail activity are becoming more aligned, then posed the key question of “whether this shift leads to accumulation or distribution.”
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Another pointed to the return to May levels as significant in itself, describing it as “a real shift in who’s actually active here.” Neither view assumes a direction. Both focus on what the structural change might signal going forward.
A Pattern Taking Shape
TimesTabloid reported in June that only 215 million XRP were deposited onto Binance in May. For one of the world’s largest exchanges, that figure stood out. The current spread returning to those same May levels adds weight to the idea that something structural shifted on Binance during that period.
The two data points now sit alongside each other. A drop in deposits in May. A spread reading in July that matches May exactly. That is not a coincidence analysts are likely to ignore.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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