XRP Whales Pull Billions Off Binance as Supply Dries Up – Is a Major Breakout Brewing?
XRP's largest holders are making a move that traders aren't ignoring. Fresh on-chain data shows whales are pulling millions of XRP off Binance, tightening exchange supply as the top altcoin trades at $1.07 per CoinCodex data.
More importantly, the scale of these withdrawals is fueling speculation that major investors are positioning for a significant move.
CryptoQuant analyst Amr Taha reported that wallets transferring at least 1 million XRP accounted for 55.3% of Binance's total daily XRP outflow value on Aug. 3. Well, this is the highest concentration of whale withdrawals since June 30, when the same cohort represented about 56% of daily outflows while XRP traded around $1.04.
The implications extend beyond the size of the transfers. Large withdrawals from centralized exchanges often indicate coins are being moved into private wallets, institutional custody, or long-term storage rather than kept available for immediate selling. As exchange balances shrink, potential sell-side pressure also declines.
XRP's Bullish Case Strengthens With Whale Outflows, RLUSD Utility, and Key Technical Setup
Taha also highlighted that Binance's XRP exchange supply ratio has fallen to just 0.03, suggesting only a small share of XRP's circulating supply remains on the platform. If demand increases while exchange reserves continue to tighten, the reduced supply could amplify price movements.
The shift comes as XRP's utility continues to expand beyond trading. Flare recently enabled XRP holders to borrow Ripple's RLUSD stablecoin on Ethereum using FXRP as collateral, allowing investors to access liquidity without selling their XRP.
Why does this matter? Well, this development provides another incentive for long-term holders to move assets off exchanges while maintaining exposure to potential upside.
On the technical side, XRP remains trapped inside a tightening wedge, with the $1.08 exponential moving average (EMA) serving as a critical resistance level. A decisive breakout above it could strengthen bullish momentum, while rejection may see the token revisit support near $1.00.
Therefore, the combination of record-sized outflows, shrinking Binance reserves, expanding real-world utility, and a pivotal technical setup suggests the market's biggest players are becoming increasingly active.
Whether this marks the beginning of XRP's next major rally remains to be seen. But with whales removing coins from Binance at one of the fastest rates seen in weeks and exchange supply continuing to tighten, the asset is once again commanding the market's full attention.
