XRP has emerged as the top performer among major cryptocurrencies, outpacing Bitcoin and Ethereum as buyers moved in following the sharp downturn earlier this month.

Since touching a low on Feb. 6, XRP has climbed roughly 38% to around $1.55, based on figures from CoinDesk. The token has also advanced more than 5% over the past 24 hours.

Bitcoin and ether, by comparison, have recovered about 15% from their early-February troughs, recently trading near $69,420 and $2,020, respectively.

XRP’s relative strength aligns with evidence of heavy withdrawals from Binance during the sell-off. Data compiled by CryptoQuant shows that Binance’s XRP reserves fell by 192.37 million tokens to 2.553 billion between Feb. 7 and 9 — a roughly 7% decline that brought balances to their lowest level since January 2024. Reserves have since steadied.

Shrinking exchange balances are often viewed as a signal of accumulation, as investors typically move assets into self-custody when planning to hold for the long term. Reduced on-exchange supply can limit selling pressure and create conditions supportive of price gains.

A comparable trend unfolded late last year, when XRP surged from approximately $0.60 to above $2.40 in the final two months of 2024 as exchange-held balances dropped more rapidly, reinforcing the link between declining supply and sharp rallies.