$35 Million XRP Exit Triggers Debate Over $32 Price Target
CryptoQuant data revealed that more than 231 million XRP left Binance in a single day, valued at over $335 million. This move was significantly larger than the reported 90-day average for comparable whale outflows, which sits near $14 million.
According to Cheeky Crypto, a crypto trader and analyst, this withdrawal is not necessarily a bearish signal. He explained that XRP held on an exchange remains available for immediate trading, while XRP moved to a private wallet no longer sits ready to sell on that platform.
Cheeky Crypto also noted that large holders have been moving significant amounts of XRP in both directions, indicating active repositioning rather than one-sided accumulation. He emphasized the importance of looking at the sequence of events rather than just the headline numbers.
The $32 XRP price target has garnered attention, but Cheeky Crypto cautioned that a sell order at any price is not a fixed commitment and can be canceled or changed by whales.