Ripple (XRP) Whales Pull Millions Off Binance as $2 Comes Back Into Focus

$XRP briefly surged past $1.7 before stabilizing near $1.4. After the latest rally, the token appears to have run into resistance, even as whale withdrawals from Binance reached their highest level in six months. The combination of large exchange outflows, rising network activity, and a cooler derivatives backdrop has kept traders focused on whether the recent move can hold or fade.

According to CryptoQuant analyst Darkfost, more than 231 million $XRP were moved off the exchange by large holders.

Whale Accumulation

The withdrawals were worth more than $335 million in a single day, far above the 90-day average of roughly $40 million. Darkfost said the move was both sudden and powerful compared with recent trends, and highlighted a notable shift in the behavior of large $XRP holders.

The rise in whale outflows comes as XRP’s market capitalization increased by $25 billion over the past week, during which the token gained more than 40%.

According to Darkfost, this accumulation trend may have helped support XRP’s strong performance and renewed attention. If the pattern continues, the analyst said the asset could test the $2 level in a relatively short period.

This week, Ali Martinez also pointed to a sharp increase in XRP network activity after active addresses climbed to 356,070 from 47,180. That is an increase of more than 654%, a level that typically signals greater participation and can coincide with sharper price swings.

Trouble Ahead?

At the same time, the derivatives market showed short-term pressure for XRP after the token cleared liquidity near resistance and then moved back toward a major support zone. Long liquidations came in at approximately $4.66 million, up 31.82% on the day, while short liquidations were about $1.13 million after increasing 61.61%.

Despite the stronger percentage increase in short liquidations, the total value of long liquidations was nearly four times larger. That suggests the pullback after the recent rally forced a significant number of leveraged long positions out of the market, meaning the decline was driven by both spot selling and the liquidation of leveraged positions.

CryptoQuant said that while this confirms current bearish pressure, the clearing of leveraged positions could eventually create room for a healthier rebound.

Meanwhile, XRP’s Money Flow Index (MFI) has dropped to 35.89 from around 60, indicating that buying pressure behind the earlier move has weakened significantly. However, the MFI remains above 20, meaning the crypto asset has not yet entered technically oversold territory and could still face further downside.