Whales Yank 231 Million XRP From Binance - Largest Withdrawal in 6 Months
XRP's (XRP) price has gained 11% over the past week as a broader rally lifts major cryptocurrencies. Only Solana (SOL) and Hyperliquid (HYPE) have posted stronger gains among the 10 largest coins.
However, the market is sending opposite signals. Whales are moving coins off exchanges while futures data shows traders positioning against the rally.
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XRP Whale Outflows Hit a Six-Month High
Darkfost reported that whales withdrew 231 million XRP from Binance. This marked the largest whale withdrawal recorded in six months.
Those outflows exceeded $335 million in a single day. The 90-day average sits closer to $40 million, based on his figures.
Whale withdrawals reduce the supply sitting on exchanges and available for immediate sale. They do not confirm a purchase on their own, since coins can move into custody for other reasons.
Notably, the withdrawals landed during a sharp recovery in the token. Darkfost put XRP's gain over the period at roughly 70%.
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