XRP climbed back above the $1.13 level after a sharp reduction in token deposits from large holders, known as whales, to Binance. Data from on-chain analytics provider CryptoQuant pointed to a significant slowdown in major XRP transfers to the leading exchange, coinciding with the token’s latest price recovery.
Sharp drop in whale transaction volumes
CryptoQuant reported that daily XRP whale deposits to Binance decreased to 25.3 million tokens, valued at approximately $23 million. This marks a steep decline from previous levels, which reached 583 million XRP, or around $1.36 billion based on prevailing prices. The change suggests whales are less actively preparing their XRP for immediate trading or potential sales on the platform.
The 90-day average for whale inflow value also fell, dropping from nearly $460 million earlier in the year to $69 million more recently. This trend indicates a marked reduction in large transfers and a decline in the supply of XRP available for trading on Binance.
While inflows to exchanges typically rise when significant holders plan to sell or trade substantial amounts, a decrease does not necessarily prove that large-scale selling has ended across the market. Instead, it reflects a period of less activity from major XRP holders engaged with Binance.
Recent CryptoQuant data highlights that daily XRP whale inflows to Binance plummeted from 583 million tokens to just 25.3 million, indicating a major reduction in exchange-bound volume during the token’s price rebound.
Thirty-day inflows reach lowest point in two months
According to research from Arab Chain, Binance’s 30-day cumulative whale inflows fell to approximately 947.4 million XRP, marking the lowest total in the past two months. This comes after a previous peak of 1.445 billion tokens at the end of June, representing a decrease of 34.4% within one month.
Such a reduction suggests that XRP whales not only limit their exchange transfers but may also prefer to hold tokens in private wallets or transact through other platforms. Analysts at Arab Chain noted that sustained drops in whale deposits might point to a more cautious approach to trading or diminished intentions to sell at scale.
However, Arab Chain emphasized that relying on a single metric can be misleading and urged balanced analysis using additional indicators, such as price trends, trading volume, derivatives, and broader exchange flows.
| Period | Whale Inflows to Binance | Previous Peak/Change |
|---|---|---|
| Daily | 25.3 million XRP | 583 million XRP (recent peak) |
| 30-day | 947.4 million XRP | 1.445 billion XRP (late June, -34.4%) |
| 90-day avg. (value) | $69 million | $460 million (earlier in 2024) |
Mini dictionary: Arab Chain is a digital asset analytics firm that tracks and interprets on-chain activity across major blockchains, offering insight into whale movements, trading patterns, and network health.
Impact on market supply and price
With fewer large deposits arriving at Binance, XRP’s exchange supply from major holders has diminished. This tightening of immediately available tokens can affect market liquidity and help stabilize the price when overall demand recovers.
During this period, XRP’s market price reclaimed $1.13, moving back into positive territory. Some analysts cite the reduction in whale inflows as a contributor to this momentum, noting that limited exchange supply might slow down further sell pressure.
Despite the decline in large-block deposits, smaller transactions and pre-existing exchange balances can still impact available supply and price dynamics in liquid markets. XRP whales currently represent one important part of the token’s overall liquidity structure, but not the only one.
XRP has maintained a level above $1.13 as exchange supply from major holders continues to shrink, reflecting a significant slowdown in whale deposits to Binance.
