Whale Withdrawals and On-Chain Surge Signal Accumulation Phase as XRP Tests Key Support Levels
Large holders withdrew approximately $170 million in XRP from Binance while the XRPL added 4,300 new wallets within a single 24-hour period, pointing to active on-chain accumulation. Simultaneously, on-chain metrics including a falling MVRV ratio and elevated ledger activity have been cited as conditions historically associated with price expansion. XRP price has been oscillating within a recognized support zone between $1.35 and $1.40.
On-chain data shows that large XRP holders pulled roughly $170 million worth of XRP from Binance during a period when price was holding the $1.35 to $1.40 range. Exchange outflows of this scale are generally interpreted as a shift toward self-custody or off-exchange holding, reducing the liquid supply available for immediate sale.
The XRP Ledger separately recorded 4,300 new wallet activations within a 24-hour window. While new wallet creation does not directly translate to buying pressure, it reflects growing network participation and on-chain activity at a time when price momentum has been subdued.
Three on-chain metrics have been highlighted as potentially constructive: a declining Market Value to Realized Value ratio, which suggests the asset is trading closer to its cost basis for many holders; elevated ledger activity; and a technical chart pattern described as a bullish wedge. Together these have been cited as conditions that have preceded significant price moves in prior cycles.
Despite these signals, short-term resistance has kept price capped, with some technical analysis pointing to a symmetrical triangle breakdown that could push price toward the $1.00 to $1.10 area before any recovery. The picture remains one of tension between accumulation-side signals and ongoing bearish technical pressure.
Key facts
- •Whales withdrew approximately $170 million in XRP from Binance
- •XRP price held a support and accumulation zone between $1.35 and $1.40
- •XRPL added 4,300 new wallets in a single 24-hour period
- •Falling MVRV ratio cited as a historically constructive on-chain signal
- •Bullish wedge pattern identified on technical charts
- •Short-term downside risk to $1.00-$1.10 also flagged by technical analysts