Whales Move Millions of XRP to Exchanges, Capping Rally Despite $1B+ ETF Inflows
On-chain data show large XRP holders (whales) have been transferring substantial amounts to exchanges—notably Binance—around the time of U.S. spot XRP ETF approvals. CryptoQuant inflow metrics indicate most exchange deposits come from wallets holding 100k–1M XRP and 1M+ XRP, signalling institutional/whale activity rather than retail movement. Whales likely accumulated ahead of ETF approvals and have been converting positions to liquidity, increasing exchange-available supply and creating persistent sell-side pressure that has repeatedly capped price near $1.95–$2.00. Price currently trades around $1.90–$1.93. Technical support zones cited are $1.82–$1.87 (primary) and $1.50–$1.66 (secondary); continued large inflows could drive deeper corrections. Meanwhile, U.S. spot XRP ETFs have shown strong demand—roughly $1.2b+ in net assets with notable first-day volume—yet ETF inflows have not fully absorbed the increased exchange supply. The near-term direction for XRP will likely be driven by whale behaviour and exchange inflows; unless inflows subside, downside risk remains for traders. Key keywords: XRP, whales, ETF inflows, exchange inflows, selling pressure, support levels.
Bearish
The combined reports point to a bearish near-term outlook for XRP. On-chain evidence of large, repeated inflows from whale-sized wallets to exchanges increases available sell-side supply, which has consistently capped price near $1.95–$2.00 despite strong ETF demand. While ETFs have attracted substantial assets (around $1.2b+), institutional buying through ETFs has not matched the pace of exchange inflows, leaving upward momentum constrained. Short-term, continued whale conversions to liquidity and rising exchange balances raise the risk of further downside toward the cited secondary support ($1.50–$1.66) if inflows persist. For traders this implies heightened volatility and an increased probability of failed rallies; defensive positions, tighter risk management, and monitoring of exchange inflow metrics and ETF absorption rates are advisable. Long-term impact is more neutral-to-bullish only if ETF demand materially absorbs supply or whales reduce selling — but current structure does not signal that outcome yet.