Large XRP holders have intensified their accumulation this year, with on-chain data revealing a pronounced shift in exchange withdrawal patterns. According to CryptoQuant, whale-sized transfers now account for 81% of all XRP outflows on Binance, while retail participation has dwindled to just 18%. This dominance on Binance is notably higher than the 72% whale share seen across all centralized exchanges, indicating a concentration of large-holder activity on the world's largest crypto exchange. Simultaneously, XRP’s volatility has plummeted to 0.34 – a three-month low – following sharp price swings in June.
Further analysis from Santiment shows that wallets holding between 10 million and 100 million XRP have added 1.23 billion tokens since January 2026, raising their collective holdings from 10.97 billion to 12.2 billion XRP. This accumulation has persisted despite a 43% price decline from the token’s highs, with the newly acquired stake now worth approximately $1.279 billion. However, the buying spree has not been uniform. The 10M–100M cohort hit a peak of 322 addresses in early July before a slight decline to 313, while the larger 100M–1B whale group reduced its balance by about 300 million XRP over the same period.
On the exchange front, a sharp drop in whale transfers to Binance in mid-July offered a potential signal of seller exhaustion. On-chain analyst Darkfost noted that large holders moved just 25.3 million XRP to Binance, the smallest amount since January 2025, compared to a peak of 583 million XRP. “This marks an essential first stage, the exhaustion of the largest XRP sellers on Binance, while price consolidates around $1 since June,” Darkfost commented. “This offers some relief for the price, which will now need a return of genuinely sustained demand to trigger a durable bullish move.”
The mixed behavior among different whale tiers suggests that while major holders are positioning for the long term, a broad market recovery remains uncertain. XRP currently trades above $1, but some analysts forecast a possible 35% drop in the coming months. Nevertheless, the persistent accumulation and declining sell-side pressure on Binance may provide a foundation for future price appreciation once demand revives.
