XRP, one of the largest cryptocurrencies by market capitalization, saw intensified trading activity after a sharp price correction brought it near $1.08, its lowest level in several months. This renewed volatility has drawn significant focus from traders and analysts monitoring large-scale movements by major holders.
Whale inflows reach record high
Crypto analytics provider CryptoQuant reported that large XRP holders, often referred to as whales, transferred approximately 691 million XRP to Binance in just 24 hours. This movement marks the largest single-day inflow of XRP to the exchange so far in 2024.
At the time of these deposits, XRP traded close to $1.3, which means that the tokens sent to Binance amounted to a value of around $900 million. This spike in inflows has sparked concern among market participants about the potential for further price drops driven by increased selling pressure from large investors.
Recent data indicated that 691 million XRP worth about $900 million entered Binance in one day, setting a new record for 2024 single-day inflows to the exchange.
The previous inflow record was set during a notable correction in February 2025, but the latest transfers have surpassed that volume, intensifying speculation about the behavior of XRP whales and their impact on price trends.
Sustained increase in daily averages
The surge in whale activity has not been limited to a single day. CryptoQuant’s onchain metrics showed that XRP’s 90-day moving average for daily whale inflows exceeded $100 million, reaching its highest level in nearly six months following the recent downturn in the market.
This upward trend in average inflows suggests that large holders have consistently moved significant amounts of XRP to Binance throughout the latest decline, highlighting broader uncertainty in XRP markets.
The persistent rise in whale inflows comes as XRP faces increased selling pressure and has fallen well below its previously established support levels. According to onchain data, these movements continued even as the asset struggled to recover from its latest price drop.
Analysts remain cautious, noting that large transfers to exchanges do not always lead to immediate sales. However, the timing of these whale inflows alongside major declines contributes to market fears about further downward movement.
Although whale deposits alone do not confirm sell-offs, the parallel with a sharp price correction has fueled concerns among investors tracking XRP’s market health.
Heightened market anxiety
The recent retest of the $1.08 level, last seen on August 20, has prompted heightened anxiety among traders. Many believe that whale actions could foreshadow additional volatility if large-scale liquidations follow these inflows.
XRP continues to grapple with substantial outflows and price turbulence as traders monitor exchange data closely for further signs of large-holder activity.
CryptoQuant, the analytics platform behind these findings, is a provider of onchain and market data, delivering actionable insights for institutional and retail cryptocurrency investors around the world.
Mini dictionary: Whale, a crypto whale refers to an individual or entity that holds a large quantity of a particular cryptocurrency and is often capable of influencing market prices by making sizable trades or transfers.
