XRP whales buy 70M tokens as Binance reserves hit 5‑month low
XRP whales accumulated 70 million XRP in a week as the price recovered above $1.11. Santiment data (via Ali Martinez) shows wallets holding 1M–10M XRP increased their combined balance to about 3.83 billion XRP, even amid volatility tied to the US–Iran conflict.
At the same time, Binance XRP reserves fell to a five-month low of about 2.61 billion XRP (CryptoQuant). Lower exchange balances can indicate tokens moving off exchanges, which may reduce near-term sell pressure if demand holds.
Binance also announced an $800,000 XRP airdrop for users holding Ripple USD (RLUSD), running July 17 to Aug. 14, with weekly XRP distribution to eligible users across Binance Earn, Margin and Futures—aimed at boosting RLUSD adoption.
Technically, XRP is testing resistance inside a tightening symmetrical triangle around $1.12–$1.13 after rebounding from near $1.05. 4-hour Chaikin Money Flow is positive (0.26), while Aroon readings are mixed. Daily momentum looks improved but not a full reversal (RSI ~49; MACD histogram positive).
Derivatives data adds context: XRP futures open interest is near $2.5B, and liquidation clusters concentrate around $1.117–$1.13 and $1.09–$1.10. A sustained break above $1.13 could clear nearby short-side liquidity; failure to hold $1.09–$1.10 risks a move back toward the triangle’s support near $1.06.
For traders, the XRP whale accumulation + falling exchange reserves are supportive, but triangle levels and liquidation liquidity make the next breakout or rejection especially tradeable.
Bullish
The report links two supportive signals for XRP: large-holder (whale) accumulation and falling exchange reserves at Binance. In similar past episodes, when whales add to their positions while exchange balances decline, spot sell pressure often eases, allowing price rebounds to extend—provided demand doesn’t fade.
In the short term, XRP is trading inside a tightening triangle around $1.12–$1.13, with liquidation clusters nearby. That setup typically increases volatility around breakout levels. A continuation of whale buying plus reduced exchange supply can push XRP through the upper boundary and trigger short-covering, which is why the near-term bias is constructive.
In the long term, the Binance RLUSD-related XRP airdrop may attract additional user activity and expand holding motivation, but distribution timing (July 17–Aug. 14) means the full effect may be gradual rather than immediate.
Risks remain: the Aroon/daily indicators are only partially supportive, and failing to hold the $1.09–$1.10 pocket could drive a retest toward ~$1.06. Overall, the balance of evidence (whale flows + reserve drain + positive money-flow) outweighs the technical indecision, resulting in a bullish stance.