XRP Whales Flock to Personal Wallets as Price Surges

A massive amount of XRP was withdrawn from Binance in a single day. According to CryptoQuant, over 231 million XRP were withdrawn by 'whale' accounts, which is the largest withdrawal in six months.

This move coincided with a significant surge in XRP prices. The price rose more than 70% from $0.987 to as high as $1.70, and XRP's market capitalisation increased by about $44 billion in three days.

CryptoQuant analyst Darkfost attributed the withdrawal trend to a shift towards personal wallets outside centralised exchanges, which could reduce immediately tradable supply. He also mentioned that this could be an accumulation phase supporting the recent uptrend.

However, other analysts saw a different picture. Arab Chain noted that while large withdrawals did occur, whale XRP inflows into Binance over the past 30 days were about 1.451 billion XRP, the highest in four months.