On-chain analytics firm CryptoQuant has released new data indicating a meaningful decline in selling pressure from large holders across two major cryptocurrencies. As of July 21, 2026, the Momentum Whale Inflow Ratio for Bitcoin reached a fresh low, while XRP whale deposits to Binance collapsed to levels not seen since January 2025.
Bitcoin’s negative whale inflow ratio suggests bears are losing grip
CryptoQuant’s Momentum Whale Inflow Ratio — a metric designed to track the activity of large market participants — turned sharply negative, implying that whales are less inclined to sell their holdings. According to the firm, such a reading has historically preceded short-term recoveries in Bitcoin’s price, as reduced sell-side pressure allows buying demand to gain the upper hand. The broader crypto market is currently showing mixed signals, but this indicator adds a bullish undercurrent for the world’s largest digital asset.
XRP whale inflows to Binance plummet 95%
A separate analysis by CryptoQuant analyst Darkfost highlighted an even starker shift in XRP whale behavior. Large investors transferred as much as 583 million XRP (worth approximately $1.36 billion at the time) to Binance earlier in the year, but that number has since plunged to just 25.3 million XRP (valued at roughly $23 million). The 90‑day moving average of whale inflows further confirms the trend, falling from $460 million in January 2025 to only $69 million today.
This dramatic reduction in exchange deposits suggests that whales are no longer preparing to offload large amounts of XRP. While the asset has been consolidating around the $1 mark since June, the fading supply pressure improves its underlying market structure. Darkfost noted that market recoveries typically unfold in two phases: first, selling exhaustion, and then sustained buying demand. XRP now appears to be entering that initial phase.
What comes next?
Although the easing of whale selling is a constructive development for both Bitcoin and XRP, analysts caution that a durable price uptrend still relies on renewed buying momentum. Until fresh capital enters the market consistently, the two cryptocurrencies could remain rangebound. Traders will be watching key support and resistance levels for confirmation that the shift in whale behavior is translating into higher prices.
