XRP whale inflows drop 34% to 2-month low as exchange supply shrinks

XRP rose 4.6% to $1.13 as whale inflows to Binance dropped to 947.4 million tokens, the lowest in two months, CryptoQuant data shows. The 30-day total peaked at about 1.445 billion tokens in late June before sliding 34.4%, according to the on-chain analytics platform.

"The decline in whale deposits suggests large holders are less willing to move tokens to exchanges, which often signals reduced selling intent," Arab Chain, a contributor at CryptoQuant, wrote in a QuickTake report on July 21. He added that the trend may also reflect a preference among large investors for keeping assets in private wallets rather than on centralized exchanges.

XRP traded between $1.08 and $1.14 over 24 hours, with market capitalization at $70.85 billion and volume at $1.27 billion, per CoinGecko. The token's exchange supply has also been shrinking, with tens of millions of tokens moving off trading platforms in recent months, on-chain data shows. Wallets holding at least 10,000 XRP climbed to a record of about 332,230, signaling accumulation among the largest holders.

The drop in whale selling pressure removes one overhang for XRP, but the token still needs to clear resistance at $1.24 to $1.28 to break out of a descending channel that has capped rallies since early June. A sustained move above $1.13 could open the path toward $1.35, analyst Ali Martinez said, while support at $1.02 to $1.06 remains the key level to hold.

The on-chain shift comes as XRP's broader technical picture remains mixed. The hourly chart shows price compressing inside a symmetrical triangle, with the latest push higher testing the upper boundary near $1.13. A clean break above that level would confirm the pattern and target $1.35, representing a roughly 20% gain from current levels, Martinez said on X.

On the daily chart, XRP remains inside a descending channel that has guided price lower since the token broke below the $1.30 support level on June 1. The 50-day moving average sits near $1.18 to $1.19, acting as immediate resistance, while the 100-day and 200-day moving averages slope lower above price.

XRP's spot ETFs have also drawn steady demand, pulling in about $10.7 million in net inflows during the week ending June 12, even as Bitcoin and Ethereum funds saw outflows during the same period, according to data from The Block.

Arab Chain cautioned that lower whale inflows alone are not a definitive bullish signal. Price action, trading volume, overall exchange flows and derivatives data should be assessed together, he wrote. If the trend continues and spot demand improves, the reduced inflow could help ease potential selling pressure.

This article is for informational purposes only and does not constitute investment advice.