On-chain data reveals two significant liquidity movements for XRP in February 2026, highlighting evolving whale behavior and growing cross-chain interoperability. First, the Axelar Network reported a sharp spike in cross-chain XRP activity, with $4.5 million worth of XRP moving through its Interchain Token Service (ITS) in a single day on February 9, 2026. This marked the highest daily transfer volume recorded for the year through Axelar.
This single-day surge contributed to a cumulative total of over $18.6 million in XRP transferred via Axelar ITS since the start of 2026, spanning 5,326 transactions. While January 18 saw the highest daily transaction count at 412 transfers, the February 9 event was characterized by larger individual transfers, pushing the average transfer value well above the 2026 year-to-date average of $3,500. Axelar's service enables XRP to move between different blockchain ecosystems, indicating its use is transitioning from experimentation to a measurable liquidity channel.
Concurrently, data from CryptoQuant shows a significant repositioning by large XRP holders. Whale inflows to the Binance exchange have climbed, with the 30-day cumulative inflow reaching 2.54 billion XRP. This represents a steady buildup, with daily inflows hovering around 50 million XRP, signaling a shift after months of relatively subdued activity from major wallets.
This marks a change from mid-2025, when whale inflows spiked dramatically with cumulative totals nearing 20 billion XRP, leading to high volatility. The current steady increase suggests deliberate repositioning rather than panic distribution. Analysts note that while such inflows increase the readily available supply on exchanges—which can precede selling pressure—they can also be used for derivatives collateral, liquidity management, or strategic trading. The ultimate market impact will depend on broader demand and liquidity conditions.
