XRP broke past $1.7 this week before pulling back to around $1.4, and the rally came with a clear signal from large holders. More than 231 million XRP — worth over $335 million — moved off Binance in a single day, the biggest outflow in six months. The token's market cap swelled by $25 billion over the past week, with XRP up more than 40%.
Whale withdrawals hit a six-month high
The daily outflow from Binance dwarfed the 90-day average of roughly $40 million. That kind of move often points to accumulation — holders moving coins to private wallets rather than selling. CryptoQuant analyst Darkfost said that if the accumulation trend continues, XRP could potentially test the $2 level within a relatively short period.
On-chain activity spikes
Active addresses on the XRP network jumped to 356,070 from 47,180, a surge of over 654%, according to data flagged by Ali Martinez. That's a massive increase in network usage, and it lines up with the price move.
Liquidations show a long squeeze
The pullback from $1.7 hit leveraged longs hard. Long liquidations came in at roughly $4.66 million, up 31.82% from the previous day, while short liquidations were near $1.13 million, up 61.61%. Total long liquidations were nearly four times larger than shorts, a sign that the drop forced leveraged long positions out of the market.
Momentum cools, but not oversold
XRP's Money Flow Index fell to 35.89 from around 60, showing buying pressure has weakened significantly. But it's still above 20, so the asset isn't technically oversold yet. That leaves room for more downside, though the whale accumulation could provide a floor.
The next few days will show whether the whale accumulation holds and whether XRP can defend the $1.4 level. If the outflows continue, Darkfost's $2 target starts to look realistic.
