Crypto
XRP Whales Drive Binance Withdrawals Amid Price Uncertainty
XRP whales have been driving Binance withdrawals, accounting for over 55% of all XRP token movements from the exchange. According to CryptoQuant data, this significant accumulation of XRP by large holders has reduced potential sell-side pressure on the altcoin.
The Exchange Supply Ratio fell to 0.03, indicating that less XRP was available for immediate selling. This situation helped XRP maintain its price above $1 after a massive token unlock worth $1.06 billion.
Despite this accumulation, traders remain divided on XRP's price direction for August. Kalshi data shows that 86% of traders believe XRP will rise above $1.10, while only 38% are confident it will break above $1.20 by the end of the month.