XRP Whales Pull 301M Tokens from Exchanges Amid Technical Breakout
XRP's reserves on leading exchanges have continued to decline, as large investors pull 301 million tokens from Binance, Coinbase, Bybit, and Bitget. Despite broader selling pressure in the cryptocurrency market, XRP has held above $1.48.
On-chain data shows that large holders have been moving significant amounts of XRP away from exchanges. The size of the withdrawals is noteworthy, as it suggests large holders are taking their XRP off exchanges in preparation for longer-term positions.
Binance recorded the biggest outflow, with approximately 151 million XRP leaving the exchange during a single session on September 29. This accounted for roughly 50% of the combined 301 million XRP withdrawn from the four platforms.
XRP's price chart shows $1.54 as a key technical level, according to market analyst Ali Martinez. A confirmed move above this level could open the door to a rally of roughly 10%, placing the potential target near $1.70.