XRP Whales Withdraw 122 Million Tokens From Binance, Signaling Accumulation Near $1.35

XRP whale investors have stepped up withdrawals from Binance, in a sign they may be treating the $1.35 level as a key accumulation zone.

Cointelegraph, citing CryptoQuant data, reported on May 25 that large Binance withdrawals of more than 1 million XRP per transaction totaled 122 million XRP on May 22. Based on current prices, that amounts to about $170.8 million.

It was the first time since February that whale withdrawals exceeded 100 million XRP in a single day. XRP was trading at about $1.43 at that time.

"What matters is that these withdrawals took place with XRP near $1.35," CryptoQuant contributor Amr Taha wrote. Repeated large withdrawals may indicate that some large holders view that range as an accumulation zone.

Exchange net outflows are also strengthening. XRP's exchange Net Position Change recently fell to negative $30 million, the lowest level since April. After the previous low, XRP went on to gain about 17%. Large exchange withdrawals are typically interpreted as a sign that investors are moving assets to cold wallets or preparing to hold for the longer term. That tends to reduce near-term selling pressure.

Demand for US spot XRP exchange-traded funds has also continued. According to Cointelegraph, spot XRP ETFs have recorded net inflows for 16 consecutive trading sessions, bringing cumulative net inflows to about $116.75 million.

Technically, whether support at $1.30 holds remains the key variable. Crypto analyst ChartNerd said XRP could try to reclaim resistance at $1.50 if the $1.30 level holds.

Another analyst, Crypto Patel, said XRP's current price action resembles the range-bound pattern seen from 2022 to 2024. A break above $1.50 on strong volume could open the way for further gains.