XRP whale deposits to Binance have shrunk by about 1.9 billion tokens since March, hitting the lowest level since November 2021.
Whale Deposits Crater
The reading comes from CryptoQuant analyst Arab Chain, who tracks the 30-day cumulative inflow indicator known as Sum 30D.
At the start of March, that figure stood near 2.6 billion XRP. It has fallen about 72% since.
That works out to roughly 1.9 billion XRP no longer flowing onto the exchange.
Large transfers to centralized exchanges typically signal that big holders are preparing to sell or reposition. The sharp drop points the other way.
XRP traded near $1.41 on Thursday, with daily volume above $2.64 billion and a market cap close to $87.5 billion.
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Analysts Read Restraint
Arab Chain pointed to two readings of the data. Whales may simply be less willing to sell at current prices, choosing to hold off-exchange instead.
The other explanation is caution. Major investors appear to be waiting for a clearer market direction before moving coins onto trading platforms.
The decline has held through weeks of choppy trading, which suggests the shift is intentional rather than a quiet-market artifact.
Spot XRP exchange-traded funds in the United States add a second demand source. After more than $31 million in March outflows, the products pulled in $81.6 million in April, and another $28 million in early May.
Price Coiled Tight
XRP continues to consolidate in the $1.40 to $1.42 zone, holding a tight range since the February capitulation that reset broader structure.
The token trades below its 50-day, 100-day and 200-day simple moving average, with the 50-day flattening into immediate resistance overhead.
A clean break above $1.45 would mark the first structural shift toward recovery, while repeated dips into the $1.30 to $1.35 zone have been absorbed by buyers.
XRP has spent much of 2026 grinding sideways after a volatile first quarter. The token slid from above $2 in January toward the $1.30 region by February, then carved out a base as exchange balances kept declining and ETF flows turned positive again in April.
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