Why Some XRP Users Are Calling for a Binance Boycott

• Some XRP holders urge a Binance boycott over unusual trading activity.
• Analyst claims XRP volume spikes suggest coordinated selling on Binance.
• Binance executives deny manipulation, citing macro events and leveraged liquidations instead.

A section of the XRP community is calling for a boycott of the exchange Binance after renewed claims that unusual trading activity may be contributing to sharp price reversals during XRP rallies. The debate intensified after XRP recorded notable volatility over the past 24 hours, trading around $1.45, down roughly 7.91%, after moving between a $1.45 low and $1.66 high.

The calls gained attention after market commentator Vincent Van Code claimed that sharp sell-offs often appear on Binance just as XRP begins accelerating upward.

Trading Pattern Raises Suspicion Among Traders

The analyst said that XRP rallies are frequently followed by sudden, large red volume spikes that quickly push prices lower. The chart shared by the analyst shows a sharp hourly drop accompanied by a major volume surge, which some interpret as coordinated selling pressure rather than typical retail trading. These moves first trigger short liquidations, then rapidly reverse to wipe out long positions, creating a cascading downturn before prices recover again.

Van Code argued that if the trading were driven mainly by retail investors, the volume spikes would appear more evenly across exchanges rather than appearing as concentrated bursts. He also said that similar patterns have been observed repeatedly over the past several years, fueling suspicions among some XRP holders.

Responding to a user asking whether regulatory clarity legislation could stop the situation, he argued that only a significant retail migration away from Binance would meaningfully change the dynamics.

Binance and Industry Figures Reject Manipulation Claims

Executives at Binance, including founder Changpeng Zhao, have previously rejected claims that the exchange deliberately triggers market crashes or manipulates prices. Binance has stated that large liquidations and sudden price movements often occur during periods of extreme volatility and leverage unwinding across the entire crypto market, not because of actions taken by a single exchange.

Additionally, Binance Co-CEO Richard Teng recently addressed the October 10 market crash at the Consensus Hong Kong 2026 conference. Teng stated that the sell-off was primarily driven by macro-economic factors, saying that new U.S. tariff announcements wiped roughly $1.5 trillion from global equity markets, while crypto liquidations totaled about $19 billion

At the time of writing, XRP is trading in the red, with analysts closely watching the $1.45 level as a critical support zone. Experts say a drop below $1.45 may push the token toward the $1.30 range.

Related: Binance CEO Says Oct. 10 Crash Was Macro-Driven, Not USDe Depeg