XRP Whale Withdrawals Skyrocket Amid Market Cap Surge

XRP has seen significant whale withdrawals from Binance in recent days, with over 231 million tokens withdrawn in a single day. This is the highest single-day total for six months, surpassing the 90-day daily average of $40 million.

The heavy withdrawals have contributed to a surge in XRP's market capitalization, which has grown by $44 billion over three days. The token's price has also seen a significant increase, with a 70% gain over the same period.

According to data from Crypto Patel, whale withdrawals climbed 4.3 times over just 48 hours, reaching the same 231 million XRP figure. This suggests that large holders are repositioning and reducing available sell-side supply on the platform.

The elevated derivatives activity, with XRP futures volume hitting a six-month peak of $11.37 billion, also points to increased interest in the token.