A significant volume of XRP is being moved by large stakeholders to Binance, drawing intense scrutiny from market observers as the cryptocurrency’s downward trajectory intensifies. In the past 24 hours alone, approximately 691 million XRP was transferred to Binance, marking the largest single-day influx since 2024.
Whale Activity Surges
According to data from CryptoQuant, a platform renowned for monitoring blockchain data and analyzing market flows, this surge in transfers signals a noticeable increase in whale activity within the XRP network. This concentration of transfers has placed the spotlight on short-term selling possibilities in the market.
The movement of nearly 691 million XRP to Binance in a single day represents the highest influx recorded since 2024.
During this period, XRP was trading at approximately $1.3, equating the total assets transferred to the exchange to about $900 million. This significant influx arrives amid a period of price weakening, drawing substantial attention from market evaluators.
Prolonged Pressure Indication
The transfer activity is not confined to just a single day. The 90-day moving average of daily whale XRP transfers to exchanges has also surged beyond $100 million, reaching levels unseen in nearly six months.
This trend indicates that large-scale wallet holders are transferring increasing amounts of XRP to Binance over an extended period. The surpassing of previously seen high entry levels during a severe market correction in February 2025 has heightened concerns over potential selling pressure.
Price Tests Multi-Month Lows Again
XRP’s sharp downturn has led to a retest of its multi-month low around the $1.08 mark, a level last seen on August 20. This dip below local lows has fueled apprehension among short-term traders.
While whale entries do not necessarily confirm sales, the concurrent severe price decline bolsters expectations of increased selling pressure in the market.
Though the transfer of substantial assets to exchanges does not invariably result in immediate sales, the simultaneous occurrence of major inflows and price drops has prompted a cautious market stance. The synchronization between sizeable stakeholder behaviors and price movements intensifies scrutiny on XRP amidst mounting market pressure.
