Binance is seeing a surge in large-scale $XRP withdrawals at a pace significantly higher than the broader cryptocurrency market. Between October 7 and 13, the exchange's Whale vs Retail Spread indicator spiked, indicating that whale-sized withdrawals accounted for a larger share of total outflows compared to retail activity. The indicator climbed from 53% to 63.5%, a 10.5 percentage point increase in just six days.
This rapid rise on Binance contrasts sharply with the broader market, where the same metric increased by only 1.7 percentage points over the same period. The gap between Binance's 63.5% reading and the 47.7% figure across all centralized exchanges is 15.8 percentage points, a divergence reminiscent of early August, when $XRP saw a notable price increase.
In early August, a similar pattern emerged when Binance's Whale vs Retail Spread hit 62%, while the broader market stood at 44%. Following that divergence, $XRP climbed 46% over the next few weeks. However, the current situation does not definitively predict a similar rally, as the indicator's historical performance does not establish a direct causal relationship.
As of press time, $XRP is trading at $1.36, higher than the $1.07 level seen in August. Additional data shows that whales have accumulated 71 million $XRP over seven days, marking one of the most concentrated accumulation phases in recent months. Binance also recorded approximately 1.38 billion $XRP in whale outflows over 30 days, the highest reading in seven months, indicating heightened activity among large holders.