Large XRP transfers into Binance have declined, and CryptoQuant analyst PelinayPA says that may signal easing whale selling pressure. On-chain data shows fewer deposits from wallets moving more than 1 million XRP, even though XRP is still trading below its recent cycle highs.
Large Binance-bound XRP transfers have cooled
According to PelinayPA, transfers above 1 million XRP made up a meaningful portion of Binance inflows between 2021 and 2025. Those transactions were associated with whale wallets and institution-sized holders that used the exchange heavily during major market phases. During XRP’s advance toward the $3 area, Binance saw elevated large-holder inflows, a sign that major participants were actively moving coins onto the platform.
The latest data shows a different setup. CryptoQuant’s chart indicates that inflows from wallets sending more than 1 million XRP have dropped sharply from their 2025 highs. Deposits in the 100,000 to 1 million XRP range have also stayed relatively muted, rather than rising alongside price weakness.
Exchange supply signals do not point to broad distribution
Big transfers to exchanges are often treated as a sign of potential selling intent. In earlier downturns, notable increases in both the 100,000 to 1 million XRP band and the 1 million-plus XRP band tended to appear before heavier market pressure. That pattern usually reflected investors moving tokens to exchanges in preparation to sell.
This time, PelinayPA says the same behavior is missing. Even after XRP pulled back from recent highs, Binance has not recorded an unusual surge in whale inflows. The on-chain picture, at least for now, does not suggest widespread profit-taking or rapid position exits by large holders.
Price weakness may be tied more to liquidations
The analyst argues that XRP’s recent softness is likely tied more closely to leverage liquidations and broader market uncertainty than to aggressive whale distribution. In severe bear phases, exchange inflows are usually much larger as investors seek liquidity and prepare assets for sale. That has not appeared in the current data.
PelinayPA also noted that whale inflows have remained restrained after XRP ETF approvals. That may indicate limited willingness among large investors to sell at current levels. Lower exchange inflows also mean less XRP is readily available on exchange order books. If demand holds up while exchange supply stays constrained, the setup could leave room for a stronger recovery.
Based on the latest on-chain readings, major XRP holders do not appear to be rushing for the exit. As long as large Binance inflows stay below prior cycle peaks, the data does not show a clear expansion in selling pressure.