Binance XRP Whale Withdrawals Drop to More Than Two-Month Low as Big Investors Hold Back

Whale withdrawals of XRP from Binance have fallen to their lowest level in more than two months, according to an on-chain analysis, suggesting large investors are taking a wait-and-see approach.

Arab Chain, a contributor to CryptoQuant Quicktake, wrote on July 17 that the 30-day total Binance XRP whale withdrawal metric had declined to about 885.1 million XRP. That was the lowest reading in more than two months.

The metric tracks large XRP withdrawals from Binance to external wallets over the past 30 days. Larger withdrawals are often interpreted as a sign that big investors are moving assets off the exchange for longer-term holding.

A decline in withdrawals means less XRP is being moved off the exchange by large investors. Still, a lower withdrawal figure alone does not signal either a bullish or bearish market, Arab Chain wrote. It should be assessed alongside other indicators, including deposit flows, trading volume, liquidity and price action.

The decline came as XRP traded within a relatively narrow range. That suggests large investors may be staying on the sidelines rather than making a clear directional bet.

Arab Chain said the stabilization in whale withdrawals may indicate investors are waiting for a new market catalyst, or that investment activity has slowed compared with recent months.

He added that reduced movement in large holdings could also affect future market liquidity and network activity.