XRP traded around $1.14 on Wednesday, up more than 2% on the day, but beneath the surface a key metric is flashing a shift in big-money behavior. Whale inflows to Binance dropped to 25.6 million XRP — the lowest level since January 2025, according to on-chain data. At the peak, whales moved 583 million XRP, worth roughly $1.36 billion, onto the exchange.
Whale activity hits a low
The 90-day average of whale inflows fell from about $460 million in early 2025 to near $69 million. That's a dramatic pullback from the heavy selling pressure seen earlier this year. Meanwhile, addresses holding between 100,000 and 100 million XRP added 2.8% to their positions over the past five weeks. The smallest wallets — those holding under 0.01 XRP — cut their holdings by 5.2%.
Market intelligence platform Santiment noted that XRP has historically tracked the behavior of its largest stakeholders. When whales accumulate, the token tends to follow; when they dump, prices often slide. The current pattern suggests big holders are stepping back from selling, but they aren't yet piling in aggressively.
Thin volume and a missing retail crowd
Spot trading activity weakened sharply on both Binance and South Korea's Upbit, two of the most active exchanges for XRP. Thin volume typically signals fading interest, but it also shows that retail FOMO has yet to arrive. Without a fresh wave of buyers, the market remains in a waiting game.
Analyst Darkfost said the falling exchange inflows signal that large sellers are stepping back. He added that this marks the exhaustion of the largest XRP sellers on Binance, but sustained demand is needed for a durable bullish move. In other words, the selling pressure has eased — but that alone won't push prices higher.
What's still supporting XRP
Several factors continue to underpin the token's long-term case. Institutional access through XRP exchange-traded fund products, the resolved SEC overhang from Ripple's legal battle, and continued utility on the XRP Ledger are all cited as supporting elements. These fundamentals haven't changed, even as short-term trading momentum fades.
The question now is whether buyers will step in to fill the void left by retreating whales. With retail still on the sidelines and volume thin, the next move likely depends on a catalyst — a regulatory decision, an ETF filing update, or a broader crypto market shift. For now, XRP is holding $1.14, but the real test is whether it can build a base without the whales leading the charge.
