XRP’s recent pullback may have more to do with the strength and weakness of the market than the outflows associated with major shareholders, according to CryptoQuant analyst Pelin Ay. The expert pointed to the drop of XRP into Binance, especially among the transfers of millions, as evidence that the pressure of the whale to sell fish did not increase during the download period.
Ay shared a CryptoQuant chart following the XRP Ledger exchange on Binance and the price band, following the price of XRP in dollars. The system separates inputs into groups from less than 1,000 XRP to more than 1 million XRP, allowing analysts to distinguish between small exchange deposits and transfers involving whales or school bags.
Collaborative Reading
XRP Whale Trading Pressure Eases As Binance Exits
According to Ay, the largest transfer group in history has played an important role in the entry process of Binance. “Transfers of more than 1 million XRP are common on the chart at times,” he wrote. “This shows that the majority of XRP entering Binance is from the whale and the main addresses. In particular, the number of transactions between 2021-2025 shows that the major players are actively using Binance. “
The biggest change, in his opinion, is what happened after XRP’s interest rate of 2025. The chart shows a significant decline Binance login groups after the time when XRP approached the area of $ 3, which shows that the main owners did not send signals on the exchange at the same level that was observed on the market’s market segments. In exchange analysis, the rise in capital is often interpreted as a selling point, since assets sent to the trading floor can be sold, used as collateral, or reinvested.
Ay said that the current situation is not comparable to previous periods of aggressive distribution. “In the past, before the big drops, there are often sudden spikes in the 100K-1M XRP and 1M+ XRP groups. Currently, at the end of the chart, there is no such dramatic increase. Therefore, the on-chain data currently reduces the possibility of aggressive trading and taking large profits.”
That distinction is very important to his teaching. If XRP is experiencing a whale-led sale, the chart is expected to show a significant increase in large deposits at Binance, especially from the 100,000-to-1-million XRP and 1-million-plus XRP groups. In fact, Ay says the opposite is apparent: inputs have fallen while prices have decreased.
Collaborative Reading
“The chart shows that the decline was mainly due to the economic slowdown and the weak market,” he added. “Because of the usual strong bear markets, the amount of XRP that goes to the markets is visible.”
This does not mean that XRP is risk free. In fact, Ay’s reading is that the current trade lacks one of the most dangerous signals often associated with deep corrections: whales send XRP to major exchanges. This makes the source of the sales force important. A closed-ended move can quickly pick up when positions are cleared, but that doesn’t mean that long-term holders are quickly dividing the market.
Ay also linked the recent reduction in penetration to a weakening of the region’s power. “If Binance’s currency continues to be low, sales will slow down,” he wrote. “With the increase in demand, it is easy for XRP to return to the area of $1.8-2.0. Especially if the big rise does not resume in the 1M + XRP group, this system can be maintained.”
Status is important. His argument hinges on how much Binance is holding, especially in the 1-million-plus XRP category. A new increase in these groups may weaken the analysis, because it may indicate that large wallets are also bringing the need to exchange.
At press time, XRP was trading at $1.1444.
Graphic design by DALL.E, chart from TradingView.com
