On-chain data from CryptoQuant shows that large XRP investors have withdrawn approximately 403 million XRP from Binance since May 3. Most transactions exceeded 1 million XRP, indicating a steady outflow trend driven by whales and institutions rather than a one-off event. The analytics firm noted that such large withdrawals can reduce available supply on liquid trading platforms, potentially easing short-term selling pressure and signaling stronger holding tendencies among big investors.
This pattern differs from previous accumulation activity observed on Coinbase in late March and April, when XRP traded near $1.34 and large outflows were concentrated on specific days. Since the price recovery toward $1.47, the focus has shifted to Binance, with daily large outflows becoming a persistent trend. CryptoQuant emphasized that historically, regular large-scale cryptocurrency withdrawals from exchanges are often interpreted as signs of accumulation, storage transfers, or reduced intent to sell.
Meanwhile, Santiment reports that wallets holding at least 10 million XRP now control 45.83 billion tokens—about 68.5% of the circulating supply and worth roughly $68.5 billion. This is the highest concentration of XRP among whales since 2018. Accumulation has steadily increased since 2023 and accelerated through late 2024 and early 2025. The token is now testing a key resistance level near $1.55, with growing whale activity drawing market attention.
