XRP Whale Exchange Inflows Plummet as Accumulation Persists
XRP whale exchange inflows have hit a five-year low as accumulation persists. The three-month average of XRP deposits to Binance has fallen to $61 million, down from over $450 million last year. This decline suggests reduced selling pressure, but Darkfost, a CryptoQuant contributor, cautioned that demand has not yet fully recovered.
The number of large holders accumulating XRP is increasing. In the past three months, 32 new wallets holding at least one million tokens have emerged. On August 3, 81% of XRP moved out of Binance went to large-holder wallets, while on other exchanges, the figure was 72%. This indicates that major participants are actively moving assets into self-custody or long-term holding addresses.
Network activity on the XRP Ledger has also increased. Daily active addresses averaged 35,700 in August, up from 26,400 in July. However, the influx of new users has not accelerated meaningfully, with a steady pace of new address creation at around 2,260 per day.