Recent on-chain data reveals that XRP transfers to large wallets from Binance have dropped to their lowest levels in five years. According to figures released by on-chain analyst Darkfost on October 20, the 90-day moving average of XRP’s dollar-denominated value transferred to whale wallets plummeted to approximately $49.7 million. This significant decline is the lowest since October 2021 and suggests a waning interest among major investors in XRP.
Whales Await More Favorable Prices
Typically, substantial transfers from exchanges to external wallets are used as an indicator of accumulation trends among major holders. Darkfost’s analysis indicates that in February 2025, the 90-day moving average of such transfers reached around $3.5 billion, with daily exits occasionally surpassing $10 billion. However, this activity has continuously weakened, dropping to a five-year low.
Commenting on the trend, Darkfost attributed the decline to a reduction in interest from whale investors, who might be waiting for more attractive entry prices. The analyst suggested that XRP’s relatively resilient price performance amid the current bear market could explain the slowdown in accumulation. Prices might not have dipped enough to trigger extensive purchasing seen in 2022 and 2023.
If whale demand does not resurface, XRP could face insufficient buying volume in the long run. However, Darkfost also noted that significant trend reversals sometimes occur during periods when trading volume and market interest have plummeted sharply. Therefore, this indicator alone may not conclusively determine XRP’s future price direction.
XRP’s Official Account Sparks Mixed Reactions
Amid the slowdown in whale activity, the XRP ecosystem made strides in communication by launching an official account. Jointly managed by Ripple and the XRP Ledger Foundation (XRPLF), the @XRP account announced its presence on the X platform with its inaugural post greeting, “Hello world. It was time.” This quickly garnered tens of thousands of followers.
Ripple CEO Brad Garlinghouse welcomed the development, expressing that the team had been eagerly anticipating this launch. Ripple’s corporate account and Evernorth, an XRP treasury firm recently listed on Nasdaq, were among those celebrating the account’s debut.
Co-managed by Ripple and XRPLF, which supports the XRP Ledger ecosystem, the account aims to serve as a unified communication channel. Its biography defines XRP as the native token of the decentralized blockchain developed for payments, noting that the posts do not constitute investment advice.
Community Responds with Excitement and Criticism
Community reactions were not limited to excitement. Some users expressed a desire for price increases and tangible results over social media initiatives. Joey Swoll, a fitness influencer who has supported XRP since 2019, urged Garlinghouse to focus efforts. One user linked the account’s launch to potential new XRP sales from escrowed accounts, though this remains speculative.
Conversely, others welcomed the launch, sharing their confidence in the future of the XRP ecosystem. While the account’s debut created a stir among the community, on-chain data continues to highlight a prevailing weakness in large investors’ appetite for accumulation.
