XRP Whale Deposits Plummet to Lowest Level Since 2021

XRP whale deposits to Binance have hit their lowest level in over three years, according to data from CryptoQuant contributor Darkfost.

The current three-month average of whale deposits stands at roughly $61 million, down sharply from $456 million in January and $355 million in October. This significant drop in deposits suggests that large XRP holders are not rushing to sell their tokens on the exchange, potentially reducing immediate downward pressure on the token's price.

Darkfost noted that the current deposit levels are six to eight times lower than the peaks seen earlier last year, but with net inflows still positive at $18.8 million, it indicates some XRP is still moving into Binance, albeit at a much slower pace. The absence of clear new demand means the market could still be in a consolidation phase.