XRP Whales Drive 55% of Binance Withdrawals, But Will Price Rise Above $1.10?

XRP has been hovering just above the $1 mark, with traders remaining divided on its price direction for August. Despite this uncertainty, XRP whales have been driving withdrawals from exchanges, particularly Binance and Coinbase.

Data from CryptoQuant shows that whale wallets moving over 1 million XRP tokens from Binance accounted for more than 55% of all withdrawals. Similarly, sharks who bought between 100K and 1 million XRP represented 24.5% of withdrawals on the same exchange.

This accumulation is seen as a positive sign by some, with the Exchange Supply Ratio falling to 0.03. However, traders on Kalshi remain divided about XRP's price direction for August, with 86% believing it will rise above $1.10 and 67% predicting it will trade between $1 and $1.25 by year-end.