XRP Whale Moves 1.6B Tokens to Binance

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Massive XRP transfers to Binance could increase selling pressure, although inflows alone do not prove that investors are selling.

XRP transfers to Binance have increased sharply, raising questions about possible selling pressure in the short term. According to CryptoQuant’s latest findings, around 1.6 billion tokens flowed into the exchange over the past 30 days.

This is the highest 30-day inflow recorded since March.

Inflows Rise, as Futures Stay Strong
Large amounts of XRP moving to an exchange can be a warning sign. Traders often send tokens to exchanges when they plan to sell. However, the inflow alone does not confirm that selling has taken place, CryptoQuant explained in its post.

It does not provide a clear bearish signal yet. For now, the data suggests a “cautious short-term” outlook. If Binance continues to receive large amounts of XRP, while its reserves increase and the price weakens, selling pressure could become stronger. On the other hand, if Binance reserves remain stable and XRP holds its price, the market could be absorbing the additional supply.

XRP futures trading stayed busy in September as volumes remained close to their highest levels of the past six months. Data revealed that trading activity picked up from August.

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