XRP's price correction has continued to deepen, with the leading altcoin retesting its multi-month low around $1.08, causing trading activity to intensify, especially among large holders.
Latest onchain data from crypto analytics platform CryptoQuant shows that large XRP holders are moving an unusually high volume of tokens to Binance, stirring speculation about increased selling activity among whales.
691 million XRP deposited into Binance
Notably, the data shows that whales have deposited about 691 million XRP into Binance within 24 hours, marking the largest single-day inflow recorded since 2024.
While XRP was trading around $1.3 during the period, the total XRP that flowed into the exchange that day was worth about $900 million, drawing attention from market analysts.
The massive XRP inflow has stirred panic among investors about the asset's potential performance, as it has surpassed the previous inflow record seen during a major market correction in February 2025.
It is important to note that the surge is not limited to a single day, as XRP's 90-day moving average of daily whale inflows has also surged above $100 million following recent market declines.
As such, the metric has reached its highest level in nearly six months, suggesting that large holders have been moving increasing amounts of XRP to Binance over an extended period.
XRP retests $1.08
The massive increase in XRP whale inflows has come as XRP continues to face a severe market decline, falling far below its local lows.
Following the extensive price decline, XRP has just retested its multi-month low around $1.08, a price level last seen on August 20, sparking fear among traders.
Source: CoinMarketCap
Although whale inflows do not necessarily mean that the whales have sold their holdings, the coinciding price bloodbath points to increased selling activity.