XRP whales withdrew over 231 million tokens from Binance in a single day as price stabilized around $1.4 after briefly surpassing $1.7, signaling mixed momentum amid derivative market bearish pressure.
Macro & Markets ·
XRP reached a six-month high above $1.7 before settling around $1.4, coinciding with substantial whale withdrawals from Binance exceeding 231 million tokens in a single day. The outflow totaled more than $335 million and significantly exceeded the 90-day average, marking a notable shift in large holder behavior during the token's weekly surge of 40%.
The withdrawals suggest accumulation momentum among major participants, yet the derivatives market presents a countervailing force. Long liquidations substantially outpace short liquidations, indicating bearish pressure that may constrain near-term price appreciation despite elevated network activity.
The tension between whale accumulation and derivative market weakness leaves the trajectory uncertain. Whether sustained demand from large holders can overcome short-term liquidation pressure, or whether the $1.7 level represents a local peak rather than a launch point toward $2, remains to be determined by subsequent trading sessions and on-chain behavior.