What to Know:
- XRP whales transferred more than $23 million through three major transactions, with two movements remaining between private wallets without exchange involvement.
- One whale deposited 1.44 million XRP into Binance, increasing trader attention as exchange inflows can signal potential selling activity.
- XRP continues to hold the $1.08 support level as traders compare whale transactions with technical indicators to assess possible market direction.
More than $23 million worth of XRP moved through three whale transactions within a single day, putting large holder activity back in focus. According to blockchain data shared by analyst Diana, two transfers remained between private wallets, another sent XRP to Binance, introducing a bearish signal that traders often monitor.
The combined transactions involved more than 21.4 million XRP valued at approximately $23.29 million. Although the transfers differed in destination, they highlighted that major XRP holders remain active as the cryptocurrency trades near an important technical level.
The first transaction transferred 10 million XRP, worth about $10.89 million, between two private wallets. Diana classified the movement as neutral and assigned it an impact score of five because the tokens did not move to a trading platform.
Additionally, another 10 million XRP worth roughly $10.83 million shifted between private wallets. Diana also labeled that transfer as neutral with the same impact score. Such movements often reflect custody adjustments, internal asset management, or transfers between addresses controlled by the same owner.
Since both transactions stayed outside exchanges, they did not immediately increase XRP’s available trading supply. Consequently, traders generally view such transfers as less significant than exchange inflows when assessing short-term market sentiment.
The Third Transaction Tells a Different Story
Meanwhile, the third transaction stood out because it moved 1,447,293.2 XRP worth approximately $1.57 million into Binance. Unlike the other two transfers, this movement carried a bearish direction with an impact score of four.
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Exchange deposits often attract closer attention because they increase the amount of XRP available for trading. However, a deposit alone does not confirm that a whale intends to sell. Large investors also move assets onto exchanges for liquidity management, collateral requirements, or portfolio rebalancing.
Even so, the Binance transfer adds another factor for traders already tracking XRP’s price action. Besides the on-chain movements, Diana recently noted that XRP continues to defend the $1.08 support level while trading beneath a descending resistance trendline.
If exchange inflows remain limited and buyers defend that support, XRP could maintain its current market structure. Conversely, additional whale deposits into exchanges could increase available supply and place greater pressure on the price. Consequently, market participants are watching both blockchain activity and key technical levels for signs of XRP’s next directional move.
As per the recent data, more than $23 million in XRP changed hands through three whale transactions, with only one transfer reaching Binance. While the exchange deposit introduced a bearish signal, the broader activity suggests traders will remain focused on future whale movements alongside XRP’s ability to hold its key support level.
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