XRP's seven-day deposit transaction share on Binance reached 59.5% on November 8, its highest reading since October 2024, as the token slipped below $1.15 to around $1.11.

The corresponding withdrawal share fell to 40.4%, also its lowest since 2024.

The shift is sharper on Binance than across centralized exchanges. All-CEX deposit share rose from roughly 45% on October 27 to 49% on November 8, while the withdrawal share fell from 55% to 50.9%.

Binance's deposit share now exceeds the all-exchange figure by 10.5 percentage points.

Its deposit-withdrawal gap stands at 19.1 points, versus a 1.9-point withdrawal lead across all CEXs.

The divergence emerged amid wider risk aversion after Democrats won both chambers of Congress in the November 3 U.S. midterms. Concerns about tighter AI oversight and restrictions on data-center construction accompanied a November 5 stock selloff: the Nasdaq Composite dropped 5.5%, while the Nasdaq 100 shed about $2.5 trillion in market value.

According to Ballotpedia, 46 of 47 local ballot measures decided in 2026 had outcomes favoring restrictions on data-center development as of November 4, either through approving new limits or rejecting development-friendly proposals.

Written by Amr Taha