XRP Whales Spark Breakout Frenzy With Record-Setting Withdrawals

XRP whales are making a significant move by withdrawing millions of XRP from Binance, tightening exchange supply and fueling speculation about a major price breakout.

According to CryptoQuant analyst Amr Taha, wallets transferring at least 1 million XRP accounted for 55.3% of Binance's total daily XRP outflow value on August 3, the highest concentration since June 30 when the same cohort represented about 56% of daily outflows.

The scale of these withdrawals indicates that major investors are positioning themselves for a significant price move, as large withdrawals from centralized exchanges often signal coins being moved into private wallets or long-term storage rather than kept available for immediate selling.

XRP's exchange supply ratio on Binance has fallen to 0.03, suggesting only a small share of XRP's circulating supply remains on the platform. This reduced supply could amplify price movements if demand increases while exchange reserves continue to tighten.