Whales Yank 231 Million XRP From Binance — Largest Withdrawal in 6 Months

Spot price for XRP rose about 11% in the last week, outpacing most major cryptocurrencies. The rally coincided with a record‑size withdrawal by large holders, or “whales,” from the Binance exchange.

Whale Outflows Reach Six‑Month High

According to analytics, whales moved roughly 231 million XRP out of Binance in a single day. The transfer represents the largest XRP withdrawal from the platform in the past six months and is valued at over $335 million. For comparison, the 90‑day average daily outflow is around $40 million.

Impact on Spot Supply

Removing such a volume from the exchange reduces the amount of XRP immediately available for sale on the spot market. The outflows occurred while the token was experiencing a sharp price recovery, with analysts noting a roughly 70% gain over the recent period.

Derivatives Market Shows Bearish Tilt

Contrasting the spot activity, derivatives data indicated growing bearish pressure. Binance’s net taker volume posted a strong sell‑side imbalance of –$96 million, the largest of the year. At the same time, open interest on Binance rose about 14.8%, suggesting new short positions were being added rather than existing longs being closed.

Market Tension Between Spot and Futures

The combination of heavy spot withdrawals and rising bearish exposure in futures creates a “tug‑of‑war” between spot demand and leveraged selling pressure. XRP remains above $1.40, but the balance of these forces will likely influence its next price move.