XRP Whales Shift From Binance as Prices Test $1.06
XRP whales are moving their exchange activity. CryptoQuant data shows the 7-day moving average of the XRP Whale vs Retail Spread across all centralized exchanges rose from 26% (May 6) to 50.9% (Jun 29), up 24.9 percentage points. This signals larger transfers (>100,000 XRP) make up a growing share of outflows versus retail-sized moves.
However, Binance is losing share. The same metric on Binance fell from 62% (Jun 11) to 44.6% (Jun 29), down 17.4 percentage points. As a result, Binance’s whale activity is now 6.3 percentage points below the broader CEX average of 50.9%. Overall, XRP whales appear less concentrated on Binance and more distributed across other platforms.
Price remains weak. XRP slid through June, dropping from above $1.30 to around $1.05. A mid-June bounce faded as sellers regained control, and XRP slipped behind BNB and USDC by market cap. Traders now watch key support at about $1.06; if it breaks, downside levels cited include $0.80, $0.62, and $0.51.
Glassnode also noted XRP investors are realizing more losses than profits. Some analysts still point to historical “central line” behavior, suggesting a potential longer-term upside range of $5.70–$8 if prior cycle patterns repeat.
Bearish
The data suggests a shift in where XRP whales place exchange transfers, not a clear improvement in demand. While whale-sized outflows are growing across the broader CEX market (potentially signaling active repositioning), Binance’s whale share is falling and now trails the overall CEX average. For traders, this often means reduced concentration and potentially less “support” from the venue most associated with large flows.
At the same time, price action is weak: XRP is stuck below prior highs and testing the $1.06 support zone. When on-chain loss realization is rising (Glassnode: more losses than profits), it commonly coincides with sell pressure or hesitation to add risk. If $1.06 fails, the article’s lower supports ($0.80/$0.62/$0.51) align with typical downside continuation scenarios.
Historically, similar patterns—large holders redistributing flows across exchanges while spot price struggles—tend to produce choppy, bearish-to-neutral trade regimes in the short term. The whale redistribution could become constructive only if it’s followed by sustained spot inflows and stabilization above key levels, which the current article does not confirm.