XRP Surges 6% as Whale Inflows Hit Six-Month High

XRP saw a significant price rebound of 6% over the past 24 hours, briefly reaching $1.40. This surge comes after the cryptocurrency suffered a sharp selloff earlier in the week due to the failed Senate vote on the Clarity Act.

CryptoQuant data shows that XRP whale inflows to Binance have surged to a six-month high, reaching almost 1.6 billion XRP over the past 30 days. This metric had declined steadily from May to July before recovering in August and accelerating recently.

While higher exchange inflows can put more XRP within reach of the market, potentially increasing short-term selling pressure, it's essential to note that these transfers do not necessarily indicate whales intend to sell. They may also reflect trading, liquidity management, or portfolio repositioning.