XRP has rebounded from below $1 as ETF demand strengthens, while large holders move more than 1.4 billion tokens onto Binance.
XRP is on course for its strongest monthly gain in more than a year after recovering from below $1, even as a fresh pullback and heavy whale activity test the durability of the rally.
This price performance contrasts with the fact that XRP is on track for a roughly 32% gain in August, per CryptoRank's data. This would mark its best monthly performance since July 2025, when it advanced about 35%.
The recovery has been accompanied by stronger demand for US spot exchange-traded funds and rising stablecoin activity on the XRP Ledger.
Large holders, however, have also moved billions of XRP through Binance in recent weeks, creating competing signals over whether whales are accumulating or preparing to sell into the rebound.
The haul was the products' largest daily inflow since May 11, when they attracted $25.8 million, and extended their run of positive flows to nine consecutive trading sessions.
XRP funds had already accumulated more than $1.47 billion of net inflows by late June even as the token slid toward $1, showing that ETF purchases alone have not historically been sufficient to establish a price floor.
Dollar-denominated activity on the XRP Ledger (XRPL) has also accelerated during the recovery, with Ripple's RLUSD stablecoin crossing $2 billion in circulating supply last week.
Evernorth, the largest public company holding XRP, said its analysis of ledger data last week showed RLUSD outstanding on XRPL had increased 39% since May 20 to about $934 million. Over roughly the same period, total stablecoin supply across platforms had contracted about 6% from its May peak, representing a decline of approximately $20 billion.
Large exchange withdrawals can reduce immediately available sell-side supply and are often associated with accumulation or movement into longer-term custody. Without net-flow and wallet-level evidence, however, the simultaneous surge in deposits makes the direction of overall whale positioning less clear.
The scale of the activity shows how rapidly large-holder behavior has changed as XRP recovered from below $1.
ETF investors have continued adding exposure, RLUSD supply on XRPL is approaching $1 billion, and whales are withdrawing unusually large amounts from Binance.
At the same time, the 460 million XRP daily inflow spike and 1.451 billion XRP accumulated deposits show that substantial supply has also been moving toward the exchange.
That two-way positioning leaves XRP approaching the final days of its strongest month since July 2025, with fresh demand still entering the market, but with large holders increasingly active on both sides of the trade.