XRP, the digital asset developed by Ripple’s founders, briefly broke the $1.70 barrier before settling and stabilizing around $1.40. Despite the payments coin seeming to face resistance after its explosive rise, whale activity sends a notable signal: major XRP holders increased withdrawals from Binance to their highest level in six months.
With whale activity picking up, attention returns once again to XRP’s $2 target — a level that bullish buyers may look for next.
### XRP whales pull more than 231 million tokens from Binance
CryptoQuant analyst Darkfost reported that whales withdrew more than 231 million XRP from the global cryptocurrency exchange Binance, worth over $335 million at the time of withdrawal.
The size of the recent outflows stands out compared to the recent average. According to Darkfost, the average outflow of whale funds was around $40 million over the past 90 days, making this latest wave a dramatic increase in activity by large holders.
This surge in withdrawals means XRP whales are moving their tokens out of centralized exchanges into private wallets, which could tighten the readily available XRP supply for trading.
Darkfost stated that this wave of accumulation may have coincided with XRP's latest rise and likely contributed to it.
### An explosive expansion in XRP’s price coming?
The surge in outbound whale flows comes as XRP’s market cap surpassed the $91 billion mark over the past week, with the token up by roughly 45%.
Darkfost believes aggressive accumulation could help drive XRP momentum and revive market interest. If whales continue stacking tokens at this pace, the analyst sees a chance of a move toward the desired $2 level in the near term.
However, XRP's derivatives market is showing signs of near-term pressure after the token liquidity swept around resistance before retreating toward a key support area. Liquidations of long positions reached about $4.7 million, up 31.8% over 24 hours, while liquidations of short positions rose by 62% to roughly $1.1 million.
Although short-position liquidations saw the larger percentage jump, long-position liquidations were about four times higher. This suggests that XRP’s recent drop was driven by both selling in the spot market and forced liquidation of leveraged long positions.
The liquidation wave highlights near-term downward pressure, but eliminating excess leverage could also pave the way for a stronger, healthier rebound of the fifth-largest cryptocurrency by market value, according to CryptoQuant.
Meanwhile, the founder of Black Swan Capitalist, Farid al-Jarrah, takes a longer-term view, pointing to XRP’s long-term accumulation pattern alongside rising trading volume and expanding real-world usage. In his opinion, the longer XRP coiling lasts, the greater the likelihood of a potential rocket-like surge.
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