XRP has experienced a significant price drawdown from $1.65 to $1.29, driven by steady selling pressure from large holders. Crypto analyst Darkfost noted that whale inflows to Binance have accelerated in recent weeks, with the monthly average increasing from $72 million in August to $112.4 million. These figures represent the highest levels recorded since March, indicating a resurgence in large-scale token movements to exchanges.
Whale Activity and Price Dynamics
The increase in whale inflows, defined as transactions exceeding 1 million tokens, has coincided with XRP’s 13.4% decline in October. The token fell from $1.49 to $1.29 during this period, despite spot ETF flows totaling +$14.52 million. According to Darkfost, these inflow figures were above the $90 million monthly average recorded over the past three months. Daily spikes in whale inflows reached $400 million, reinforcing the view that selling pressure from large holders has intensified.
In mid-September, XRP tested the $1.25 local demand zone and triggered a bullish reaction that pushed the price up to $1.65. The subsequent retracement has brought the price back to this same demand zone. Swing traders are currently monitoring the $1.27-$1.31 range, anticipating a potential bullish price reaction if the support holds. While the swing structure on the 1-day chart remains bullish, the asset has settled into a range formation in recent months.
On-Chain Metrics and Holder Growth
Crypto intelligence platform Santiment observed that the number of non-empty wallets on the XRP Ledger has been rising steadily despite recent price volatility. The number of new XRP wallets created in a single day jumped to 4,772, marking the fifth-biggest spike in this metric since March. This growth in fresh participation and holder base suggests underlying demand that contrasts with the current price action.
However, the share of exchange transactions amounting to more than one million XRP dropped from 60% to 38.6%. This decline highlights a slowdown in large-holder transfers and suggests lower accumulation interest, which may contribute to the price decline. While whale inflows have currently retraced to typical levels, a trend in the opposite direction would be more encouraging for investors looking to buy at the $1.25 demand zone.
Frequently Asked Questions
What is the current monthly average for XRP whale inflows to Binance?
The monthly inflow average for whales has increased from $72 million in August to $112.4 million in recent weeks.
How many new XRP wallets were created in a recent daily spike?
The number of new XRP wallets created in a day jumped to 4,772, which is the fifth-biggest spike since March.
