Approximately 691 million XRP, valued at more than $900 million, was transferred to Binance in a single day, marking the largest daily whale inflow recorded for the token since 2024, according to CryptoQuant analyst Darkfost.

The surge in deposits coincided with XRP falling below the $1.30 mark, drawing renewed attention to large-holder exchange activity amid persistent selling pressure in the market. Data from CryptoQuant further show that the 90-day moving average of whale inflows has climbed above $100 million per day, its highest level in nearly six months. Because a moving average smooths out single-day anomalies, the reading points to steadily building deposit activity rather than an isolated spike. Sustained inflow patterns of this kind are closely watched as a gauge of how much token supply is positioned on exchanges.

Record Inflows With Uncertain Intent

Darkfost reported that the latest inflow surpassed the previous record set in February 2026, when an earlier spike occurred during a capitulation episode. Deposits of this scale can indicate that holders are preparing to sell, looking to limit losses, or seeking to protect existing gains. However, as the analyst noted, exchange deposits alone do not confirm that sales have actually been completed. Whether the tokens were moved for distribution or for another purpose should become clearer as Binance's reserve balance and subsequent inflow data are updated.

A second possible factor involves Binance's own reserves. The exchange suffered a hack on October 29, during which approximately 233.5 million XRP were stolen, meaning some of the incoming transfers could represent efforts to replenish its holdings. As the largest cryptocurrency exchange by trading volume, Binance's XRP reserves are among the balances on-chain observers watch most closely.

Price Weakness Persists Below $1.15

XRP has declined from approximately $1.50 in early October to $1.1045 as of November 10. The downturn accelerated around November 5 after the token failed to maintain its recovery toward $1.32, and bearish momentum has persisted since.

The most recent trading session nonetheless recorded a 1.02% gain, according to chart data on TradingView. XRP opened at $1.0934, reached an intraday high of $1.1063 and closed at $1.1045, with trading volume standing at 12.43 million XRP.

Technical indicators remain mixed. The relative strength index (RSI) recovered to 35.37, moving above its moving average of 28.60 while still sitting below the neutral 50 level. The MACD lines remain deeply negative near -0.0328, although their convergence suggests bearish momentum is weakening.

Key Support and Resistance Levels

XRP's immediate support zone lies between $1.09 and $1.10. A breakdown below this range could expose $1.05 and, potentially, $1.00. On the upside, initial resistance is positioned at $1.15, followed by $1.20 and $1.25. Alongside these technical levels, market observers are likely to keep an eye on whether whale deposits remain elevated in the sessions ahead.

According to Darkfost's analysis, XRP is also trading more than 67% below its latest all-time high.