Large XRP holders are increasingly withdrawing funds from Binance, while deposit activity to the exchange has dwindled, signaling reduced selling pressure despite recent price weakness. On-chain data from CryptoQuant reveals a stark shift in whale behavior across major exchanges.
According to CryptoQuant analyst Amr Taha, XRP transfers exceeding 1 million coins now represent 52.9% of all outflows from Binance, up from 47% previously. Combined with transfers between 100,000 and 1 million XRP, total outflows above 100,000 XRP account for nearly 80% of exchange withdrawals. This marks a significant increase in whale accumulation behavior on Binance. In contrast, Coinbase has seen a sharp decline in large outflows, indicating a divergence in trader preference.
Simultaneously, another CryptoQuant analyst, PelinayPA, notes that whale-sized XRP inflows to Binance have fallen substantially from their 2025 highs. Inflows from wallets moving more than 1 million XRP—which often signal intent to sell—remain subdued, as do deposits in the 100,000 to 1 million range. The absence of a major surge in exchange-bound XRP suggests that large holders are not rushing to exit positions, even as XRP trades below recent cycle highs near $3.
The contrasting data points paint a picture of confidence among major investors. While outflows surge, indicating whales moving XRP off exchanges (likely to private wallets), inflows remain low, pointing to limited selling. Analysts believe the recent price weakness is driven more by leverage liquidations and broader market uncertainty than by whale distribution. The restrained selling following ETF approvals could further support a constructive market outlook as reduced exchange supply meets steady demand.
