Crypto
$165M XRP Whale Withdrawals Rock Exchanges Amid Price Volatility
XRP whale transactions have pulled over $165 million from exchanges in a single day, marking the largest intraday figure since late February. This significant withdrawal is despite the $XRP price facing selling pressure from bears after reaching a high of $1.69 in late August.
According to CryptoQuant data, Binance led the way with outflows worth 85.4 million XRP or $115 million on September 11, accounting for nearly 70% of the total figure recorded across all exchanges.
Other exchanges such as Bybit, OKX, and Upbit also saw similar large withdrawals. Notably, these withdrawals were accompanied by a sharp intraday upswing in the XRP price to $1.43, before pulling back sharply to close at $1.35.