Large XRP holders are moving fewer tokens off Binance, with whale withdrawals dropping to their lowest level in more than two months.
CryptoQuant Quicktake contributor Arab Chain said on July 17 that Binance XRP whale outflows over the past 30 days dropped to around 885.1 million XRP, marking the weakest reading in more than two months.
The metric tracks large XRP transfers from Binance to external wallets, movements that are often associated with investors shifting tokens into long-term storage.
While elevated whale withdrawals can signal growing conviction among large holders, the recent decline suggests those investors are moving fewer assets off the exchange. Instead of showing aggressive accumulation or selling, the latest data points to a period of inactivity among the market’s biggest players.
Waiting for a catalyst
The slowdown comes as XRP is currently trading at around $1.08, falling 2.61% over the past 24 hours and nearly 10% over the past month, according to CoinMarketCap.
Despite the recent rebound, the token has continued to trade within a relatively narrow range, suggesting whales are waiting for a clearer market direction before making significant moves.
Arab Chain said the stabilization in withdrawals could reflect a wait-and-see approach ahead of a new market catalyst or simply weaker investment activity compared with recent months. The report noted, “The stabilization of outflows at these levels may also reflect a reduced willingness to move assets off the exchange, whether due to expectations of new market catalysts or a broader slowdown in investment activity compared with recent months.”
However, the findings cautioned that whale withdrawals should not be viewed in isolation. A decline in outflows does not automatically signal a bullish or bearish market. Instead, it should be assessed alongside exchange deposit flows, trading volume, liquidity, and price action to build a clearer picture of investor sentiment.
Whale activity slows
Whale transactions are closely watched, as they often indicate how large investors are positioning themselves. Massive exchange withdrawals are generally associated with long-term holding, while rising deposits could be a sign that investors may be preparing to sell.
Here, fewer Binance withdrawals imply whales are not actively transferring XRP into long-term storage, or to exchanges for an immediate sale. Instead, they seem to be hanging on to their positions waiting for clearer signals from the market.
Arab Chain added that lower outflows are “not inherently a bullish or bearish signal,” but they do suggest that large holdings are moving less, which could eventually impact XRP’s market liquidity and overall network activity.
For now, the on-chain data points to caution rather than conviction, with XRP’s largest holders opting to stay patient until a new catalyst emerges.
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