Large XRP holders have been sending much more XRP to Binance, with whale transfers reaching their highest level in six months, according to CryptoQuant contributor Arab Chain.
About 1.6 billion XRP was moved from whale wallets to Binance over the past 30 days. This is the highest amount recorded since March.
Whale transfers had been falling for several months, reaching very low levels in May, June, and July. Meanwhile, they started increasing again in August.
XRP Whale Transfers Increase
According to Arab Chain, XRP transfers to Binance have increased quickly in recent weeks. This means large XRP holders are moving much more XRP to the exchange than they did in previous months.
More XRP into exchanges means the tokens can be traded more easily, which could increase the amount of XRP available in the market in the short term.
But higher exchange inflows do not necessarily mean whales are planning to sell. Large holders may move XRP to exchanges for different reasons, such as trading, managing liquidity, or changing their portfolios. They can also move XRP between wallets and exchanges without selling it immediately.
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XRP whale inflows to Binance | CryptoQuant
Whale Inflows Do Not Mean Selling
Arab Chain said whale transfers are more useful when compared with other market data. Metrics like net exchange flows, trading volume, XRP’s price, and exchange reserves can help show whether whales are actually selling.
If whale deposits stay high while exchange inflows and trading volume also increase, it could mean large holders are preparing to sell more XRP. But if whale deposits rise without more selling pressure, the transfers could simply be for trading or moving funds around.
XRP Whales Accumulating
Meanwhile, on-chain data from Santiment showed increased activity among large XRP holders ahead of its recent rally. The analytics platform reported that 85 new wallets holding at least 1 million XRP appeared just two days before XRP surged 72% between August 17 and August 21.
The increase suggests that large holders were accumulating XRP before the price move. Wallets holding 1 million XRP or more control significant amounts of the token, and changes in their numbers shift market supply.
Santiment also highlighted activity on the XRP Ledger (XRPL), including Ripple’s support for an RLUSD credit fund serving fintech and payment companies. Investments in projects such as ZILO and Licuido are also contributing to tokenization, asset transfers and other financial services on the network.
However, not all indicators are positive. Crypto analyst Casi noted that XRP has fallen below the 0.5 Fibonacci level, weakening a previous outlook for a move toward $1.78. The analyst identified $1.65 as a key level to reclaim, while $1.10 remains important support. A deeper decline could bring $0.87 into focus.
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