More than 231 million XRP, valued at over $335 million, exited Binance within a single day, according to blockchain analytics platform CryptoQuant. The significant withdrawal marked the largest single-day XRP outflow from the exchange in approximately six months.
Withdrawal data highlights unusual activity
Cheeky Crypto, a cryptocurrency trader and social media analyst, spotlighted the dramatic movement after reviewing data reported by CryptoQuant. For comparison, the 90-day average for sizable XRP outflows from Binance stands near $14 million, making the recent event more than 20 times larger than the typical volume handled by major holders.
Cheeky Crypto clarified that XRP moved off Binance is no longer available for instant trading on the platform and typically enters private wallets, reducing immediate liquidity on the exchange.
Despite this notable withdrawal, Binance saw substantial inflows of XRP in the same period. CryptoQuant’s review indicated that 1.451 billion XRP were transferred to Binance over the course of 30 days, representing a four-month high. According to Cheeky Crypto, whales shifted large amounts of XRP both onto and off of exchanges, signaling a phase of active repositioning rather than consistent accumulation.
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AAPLMini dictionary: CryptoQuant, a blockchain analytics platform specializing in providing on-chain data and metrics for cryptocurrencies, frequently used by analysts to track large asset flows and monitor exchange activity.
He warned against interpreting these large outflows as purely bullish, instead emphasizing the complex repositioning among major XRP holders.
| Metric | Recent Figure | Long-Term Average |
|---|---|---|
| Largest Single-Day Outflow (Binance) | 231 million XRP | ~14 million XRP (90-day avg.) |
| Total 30-Day Binance Inflows | 1.451 billion XRP | 4-month high |
Large whale withdrawals can often signal rearrangement of positions, not necessarily accumulation. Whilst the $32 sell wall on Coinbase drew speculation among XRP traders, such orders are not commitments—they can be modified, canceled, or shifted based on market movements.
High sell walls fuel speculation
In parallel with the heavy withdrawal, traders noticed unusually large XRP sell orders set on Binance at $15 and on Coinbase at $32. These high-price sell walls led to renewed discussion about XRP’s potential price targets in the future.
Cheeky Crypto cautioned against attaching too much weight to these numbers. “$32 is not a prophecy,” he noted, highlighting that large holders may adjust or cancel these orders at any time, and these levels gain meaning only once price action approaches them.
Immediate resistance and market context
Analysis shared by Cheeky Crypto and others showed that XRP now faces substantial resistance between $1.51 and $1.55, with $1.54 aligning closely with the weekly 50-period exponential moving average. Further resistance has been cited in the $1.80 to $1.98 range, particularly by Cheeky Crypto’s Discord community.
XRP had recently traded in the low $1.40s after climbing from below $1.00 earlier in August to near $1.70, before retracing. According to Cheeky Crypto, a rise and close above $1.54 would reinforce the bullish case—especially if followed by a move above $2 and a sustained position near upper resistance at $1.98.
Despite the volatility, XRP-focused investment products have reportedly continued to attract new capital, with ETF inflows offering additional support to market sentiment.
Analysts point to resistance at $1.51–$1.55 as critical for the next phase. The path to higher price targets, including the much-discussed $32, depends on XRP’s ability to reclaim and hold above these levels in the near term.
Key signals for near-term direction
Looking forward, Cheeky Crypto identified three main indicators to watch: XRP’s ability to hold its support levels, a potential reclaim of the $1.51 to $1.55 resistance area, and whether withdrawal volumes from exchanges remain elevated.
Cheeky Crypto concluded that the $32 price point will only become relevant if XRP narrows the gap through sustained upward momentum. For now, he believes the struggle around the $1.54 zone will determine the asset’s next major move.
