XRP Whale Deposits to Binance Slide to Lowest Level Since 2021, Reducing Sell Pressure

BitcoinWorld XRP Whale Deposits to Binance Slide to Lowest Level Since 2021, Reducing Sell Pressure XRP whale inflows to Binance have dropped to their lowest level in over three years, a sign that large holders are moving fewer tokens to the exchange, according to data shared by CryptoQuant contributor Darkfost.

The three-month average of whale deposits now stands at roughly $61 million, down sharply from $456 million in January 2024 and $355 million in October 2024.

What the Data Shows Whale deposits refer to transfers of XRP from large holders to exchange wallets, often interpreted as a precursor to selling.

The recent decline suggests that major investors are not rushing to offload their holdings, which could reduce immediate downward pressure on the token’s price. Darkfost noted that the current deposit levels are six to eight times lower than the peaks seen earlier last year.