XRP Whale Inflows to Binance Hit Lowest Level in 2 Years – What’s Next?

XRP whale activity drops to a 2-year low, signaling potential price shift. Can XRP recover or will broader market trends hold it back?

XRP whale inflows to Binance have dropped to their lowest levels in two years. This decline has led to mixed expectations about the token’s price movement.

While reduced whale activity suggests lower selling pressure, XRP price remains under pressure. At $2.07, it shows a slight drop over the past week, leaving investors wondering what will happen next.

XRP Whale Transfers Drop Significantly

XRP whale inflows to Binance have fallen sharply in recent weeks. According to CryptoQuant, whale transfers recently dropped to the lowest levels since 2021.

The Whale Transfer Flow metric, which tracks large transfers to exchanges, fell to around 48 million XRP.

Although it slightly recovered to 56 million XRP, this remains a low point for whale activity.

The drop in whale transfers suggests that large holders are not selling their tokens. This reduction in selling pressure typically supports higher prices for a cryptocurrency.

Without constant selling from whales, there is less downward pressure on the market.

However, despite the drop in whale activity, XRP price continues to struggle. The reduction in whale inflows should theoretically provide some support, but broader market conditions are affecting XRP.

The cryptocurrency market has been under pressure in recent days, which also impacts XRP price.

XRP Price Drops Despite Reduced Selling Pressure

Despite the lower selling pressure, XRP price has been slipping. Currently, XRP is priced at $2.06, down by 1.45% in the past 24 hours.

Over the past week, the price has dropped by 2.65%, which suggests a bearish trend. The decline reflects the overall downward movement in the broader cryptocurrency market.

This price dip comes despite the reduction in whale inflows. Historically, when whales hold off on selling, it can lead to price increases.

However, XRP has not seen the same price boost this time. The broader market sentiment remains negative, and XRP is not immune to this trend.

While whale activity has decreased, the market’s overall behavior still dominates. Bitcoin, Ethereum, and other major cryptocurrencies have also faced declines recently.

The broader market factors play a larger role in XRP price movement, at least for now.

Related Reading: XRP’s Next Big Move: Will It Break 2.4 or Fall Back to 1.43?

What’s Next for XRP? Market Outlook

The current situation with XRP whale inflows mirrors previous trends. In 2021, a similar drop in whale activity led to a significant price rally.

With fewer tokens available on exchanges, demand can increase, which could push prices up. Some traders are hopeful that history will repeat itself and spark a rally in XRP.

On the other hand, some remain cautious. The broader cryptocurrency market still faces challenges, which could limit XRP potential upside.

If the market continues to trend downward, it could keep XRP price from making significant gains.

As the situation unfolds, traders will keep an eye on whale movements and broader market conditions.

The balance between reduced selling pressure and overall market sentiment will likely determine XRP short-term direction.

It remains to be seen if XRP can break free from the market’s bearish grip and move higher.

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