XRP Whales Pull $170M From Exchanges Near Key Support Zone
Large XRP holders withdrew approximately $170 million worth of XRP from Binance as the token held a $1.35, $1.40 price range identified as a significant accumulation and support area. The move is consistent with reduced sell-side pressure at current levels. On-chain behavior is being watched closely given broader market weakness.
On-chain data shows that large XRP holders withdrew roughly $170 million in XRP from Binance during a period when the token's price was consolidating in the $1.35 to $1.40 range. This price band has been identified by market analysts as a key accumulation and support zone.
Large outflows from centralized exchanges typically reduce immediately available sell-side liquidity, as coins moved off exchanges are less readily available for spot selling. Whether the withdrawn XRP is being held in cold storage or deployed elsewhere on-chain remains unconfirmed.
The withdrawal comes against a backdrop of mixed technical signals for XRP. Some on-chain metrics, including movements in the Market Value to Realized Value ratio and elevated XRP Ledger activity, have been cited as constructive, while other technical setups show the token testing or breaking near-term support levels.
Separately, XRP dropped to 16-week lows, with certain technical patterns suggesting the possibility of a deeper correction. The $1.30 level was described as a key support line, and a break below it has been flagged as a bearish development by some analysts.
Key facts
- •Whales withdrew approximately $170 million in XRP from Binance
- •Price was holding a $1.35, $1.40 accumulation and support zone at the time of withdrawals
- •MVRV ratio falling and XRP Ledger activity elevated, cited as constructive signals
- •XRP dropped to 16-week lows
- •Key support at $1.30 described as broken in at least one technical analysis
- •A bullish wedge pattern was also identified by one source