XRP Whales Unload Millions on Binance as $2 Level Comes Back into Focus

Ripple (XRP) has seen significant whale withdrawals from Binance, with over $335 million in XRP moved off the exchange in a single day. This is the highest level of withdrawals in six months, according to CryptoQuant analyst Darkfost.

The surge in whale outflows comes as XRP's market capitalization increased by $25 billion over the past week, during which the token gained more than 40%. The asset's strong market performance and renewed attention have potentially fueled this accumulation trend. If it continues, Darkfost suggests that XRP could test the $2 level within a relatively short period.

However, the derivatives market shows 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, a 31.82% daily increase, while short liquidations stood near $1.13 million after rising 61.61%. The total volume of long liquidations is nearly four times larger than the total volume of short liquidations.