XRP, the digital asset developed by Ripple’s co-founders, briefly broke above the $1.70 mark before cooling off and settling around $1.40. Although the payments token appears to be facing resistance following its explosive rally, whale activity is sending a notable signal: large XRP holders have stepped up withdrawals from Binance to their highest level in six months.
With whale activity heating up, the spotlight is back on XRP’s $2 target — a threshold bulls could be eyeing next.
XRP Whales Move Over 231 Million Tokens Off Binance
CryptoQuant analyst Darkfost reports that whales pulled more than 231 million XRP from global crypto exchange Binance, valued at over $335 million at the time of the withdrawals.
The size of the latest withdrawals is striking compared with the recent norm. Per Darkfost, whale outflows have averaged roughly $40 million over the past 90 days, making the latest surge a dramatic spike in large-holder activity.
The surge in withdrawals means that XRP whales are moving their token off centralized exchanges and into private wallets, potentially tightening the supply of XRP readily available for trading.
 
Darkfost noted that this wave of accumulation may have coincided with, and likely contributed to, XRP’s recent upsurge.
Explosive XRP Price Expansion Next?
The spike in whale outflows comes as XRP’s market cap topped a $91 billion market cap over the past week, with the token surging roughly 45%.
Darkfost believes the aggressive accumulation may be helping power XRP’s momentum and renewed market interest. If whales continue stacking the token at this pace, the pundit sees a potential move toward the coveted $2 mark in the near term.
However, XRP’s derivatives market is showing signs of near-term pressure after the token swept liquidity around resistance before retreating toward a key support zone. Long liquidations reached roughly $4.7 million, up 31.8% over 24 hours, while short liquidations climbed 62% to about $1.1 million.
Although short liquidations saw a larger percentage jump, long liquidations were nearly four times higher. This suggests XRP’s latest pullback was fueled by both spot selling and the forced closure of leveraged long positions.
The wave of liquidations highlights near-term bearish pressure, but flushing out excess leverage could also set the stage for a stronger and healthier rebound for the fifth-largest crypto by market cap, according to CryptoQuant.
Meanwhile, Black Swan Capitalist founder Versan Aljarrah is taking a longer-term view, highlighting XRP’s years-long accumulation pattern as trading volume rises alongside expanding real-world utility. In his view, the longer XRP coils, the bigger the potential rocket surge.
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