XRP Whales Fuel Binance Surge with Record $1.6B Token Inflow

XRP whales are increasing their presence on Binance, as evidenced by a six-month high in whale inflows.

According to CryptoQuant data, the cumulative inflow of XRP over the past 30 days reached an estimated 1.6 billion tokens, exceeding the levels seen in March 2023.

This surge in whale activity follows a consistent decline in March and lows observed in May, June, and July.

While these inflows are significant, it's essential to consider them within the context of net exchange flows, trading volume, price action, and reserves. Persistent high inflows alongside growing net deposits and volumes can signal increased readiness to sell.