The broader crypto market may be experiencing bearish conditions, but XRP whales appear to be in a league of their own. Latest on-chain data suggests this cohort of investors is selling fewer tokens on exchanges, raising the question of whether they are becoming more confident in the asset.
According to an analysis by CryptoQuant researcher Pelinay, decreased selling from XRP whales, coupled with stronger demand, could trigger a rally and help the sixth-largest cryptocurrency revisit the $1.8-$2 range.
Binance Records Subdued Whale Inflows
Pelinay’s analysis cited data from the world’s largest crypto exchange, Binance. Transfers of more than 1 million XRP started to decline in 2025 and have maintained that trend this year. Before the decline began, these forms of transfers were dominant on charts during certain periods, reflecting huge inflows from whales and institutional addresses.
The inflows remained consistently high between 2021 and 2025, indicating that most of these market participants used Binance.
After a 2025 peak, the 1 million+ XRP inflows began to slow down, reflecting weakening selling pressure from large holders. The decline intensified after U.S. authorities approved spot XRP exchange-traded funds (ETFs), indicating a reduced willingness among whales to offload their holdings.
XRP Price Still Down
Evaluating historical data, there is a clear trend of sharp spikes in the 100,000-1 million XRP and 1 million+ XRP inflows preceding major market downturns. This means inflows from these investor cohorts have increased selling pressure to the point where the asset takes major hits.
“At the far right of the chart, no such extraordinary surge is currently visible. As a result, on-chain data does not point to aggressive whale selling or widespread profit-taking at this stage,” Pelinay stated, referring to the Binance XRP inflow chart.
Although whales have been selling less XRP since 2025, the asset’s price has still retreated from the $3 region. At the time of writing, XRP was trading around $1.10, down 10% weekly and 5% in 24 hours. Pelinay attributed this price movement to leverage liquidations and broader market weakness due to the bear cycle.
At the end of the day, XRP can only climb higher if demand becomes stronger and inflows into Binance remain poor. This is because the available supply will continue to decrease while demand accelerates.
“As long as there is no renewed surge in the 1M+ XRP inflow category, this constructive market structure may remain intact,” the analyst added.
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