XRP Price Sinks as Whales Flock to Binance Amid Rising ETF Inflows

XRP's price has dropped by 4.3% to $1.43, following the broader crypto market trend. The decline is bringing XRP near its crucial support at the 200-week EMA of $1.37.

The surge in whale inflows to Binance, reaching 1.451 billion coins over the last 30 days, has analysts speculating about their intentions. Arab Chain notes that these inflows do not necessarily indicate a sell-off, but rather potential portfolio reallocation or preparation for market movements.

Rising ETF inflows also coincide with XRP's price increase from $1 to $1.43. The recent inflows of $23.87 million on August 25 mark the highest daily amount since May, with total inflows reaching $559 million. Goldman Sachs is now the largest holder of XRP ETFs, with a position worth $86 million.