XRP Whales Unleash Massive Withdrawals Amid Market Pressure

XRP whales made significant moves on September 11, withdrawing almost $170 million worth of tokens from major exchanges in what's been described as a seven-month withdrawal spike.

Data from CryptoQuant shows that transactions involving at least 1 million XRP drove most withdrawals across Binance, Bybit, OKX, Upbit, and other exchanges.

The largest share of the activity was on Binance, which accounted for nearly 70% of the total whale outflow recorded across the exchanges. Transactions involving at least 1 million XRP withdrew 85.4 million tokens, worth roughly $115 million at the time.

CryptoOnchain noted that Binance experienced unusually high activity on both sides of the market on September 11, with inflows reaching 91.23 million XRP and outflows climbing to 113.91 million XRP, both representing six-month highs.