XRP Whales Pull Over $335 Million from Binance

Ripple (XRP) whales have made an unusually large move off Binance in recent days, pulling over $335 million out of the exchange in a single day. This withdrawal is the highest recorded in six months and has sparked attention among market analysts.

The withdrawals total more than 231 million XRP, with large holders accelerating their accumulation efforts as the token's price surged above 40% last week. According to CryptoQuant analyst Darkfost, this trend may have contributed to XRP's strong market performance and renewed interest in the asset.

Darkfost notes that if this accumulation trend continues, XRP could potentially test the $2 level within a relatively short period. The surge in whale outflows comes as the crypto asset's market capitalization increased by $25 billion over the past week, with active addresses on the XRP network rising to 356,070 from 47,180, representing a surge of well over 654%.

However, derivatives markets show short-term pressure for XRP after the token cleared liquidity around resistance and moved back toward a major support zone. Long liquidations were recorded at approximately $4.66 million, while short liquidations stood near $1.13 million.