- 31 million XRP floods Binance in a single session
- Whale wallets dominate massive exchange inflow spike
- Market watches closely as large holders reposition XRP
On-chain analytics firm CryptoQuant identified an unusual surge in XRP exchange activity after detecting a massive one-day transfer into Binance, and according to CoinDesk, which referenced the firm’s data, more than 31,000,000 XRP flowed onto the exchange, with whale wallets accounting for the overwhelming majority of the deposits rather than smaller retail participants, immediately shifting market focus toward large-holder positioning and short-term supply changes.
Exchange flow records show that the movement took place on February 21, when inflows sharply exceeded levels observed throughout the previous week, as daily deposits before that date remained relatively contained, including a February 16 spike near 12 million XRP that was significant at the time but ultimately dwarfed by the larger surge that followed just days later.
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Breakdowns of the inflow by wallet size reveal that addresses holding between 100,000 and one million XRP contributed a substantial share of the deposits, while wallets controlling more than one million XRP added considerable volume as well, confirming that the spike reflected concentrated whale activity rather than broad retail participation across the network.
Meanwhile, XRP traded near the mid $1.40 range during the transfer window, and although the asset had experienced selling pressure earlier in the week, price action remained relatively stable after the large deposits hit Binance, suggesting that the market absorbed the added exchange supply without triggering an immediate sharp decline.
Concentrated Whale Deposits Reshape Short-Term Exchange Supply
According to CoinDesk’s report referencing CryptoQuant data, the dominance of high-value wallet bands in the February 21 spike signals strategic positioning rather than random movement, as large holders often transfer tokens to exchanges in preparation for trading, hedging exposure, or adjusting portfolio allocations during periods of shifting market sentiment.
Moreover, substantial exchange inflows typically increase available liquidity on trading platforms, and while such activity can precede selling pressure, it does not guarantee immediate liquidation, particularly when follow-up price action remains controlled, and volatility does not expand dramatically in subsequent sessions.
Significantly, inflow levels dropped back toward lower daily averages in the days following the spike, indicating that the 31,000,000 XRP transfer represented a concentrated liquidity event rather than the beginning of a sustained wave of deposits, which would have likely created more persistent pressure on price dynamics.
Consequently, market participants continue monitoring Binance wallet balances and broader exchange reserve data, as further large inflows or rapid withdrawals could clarify whether the movement signaled preparation for distribution, portfolio rebalancing, or short-term tactical positioning by major XRP holders.
Conclusion
The one-day transfer of 31,000,000 XRP into Binance underscores how a limited number of whale wallets can rapidly alter exchange supply metrics, and although price stability followed the spike, the scale and concentration of the movement explain why analysts and traders remain attentive to subsequent on-chain developments.
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