XRP whale inflows to Binance have fallen to a multi-month low, pointing to lighter sell pressure in the market. CryptoQuant analyst Amr Taha said Binance data shows a clear split between spot buyers and futures traders: spot cumulative volume delta, or CVD, has climbed to about $520.2 million, while perpetual futures CVD remains near -$261 million.
The contrast is notable. Spot participants are still accumulating XRP, but leveraged traders continue to lean defensive. That mix has kept price action relatively steady. XRP has not been pushed into a fast breakout, yet it also has not faced the kind of heavy exchange-driven selling that often pressures the market lower.
Whale transfers to Binance have slowed sharply
On-chain data adds another layer to the setup. Whale inflows to Binance are now at their lowest level since early 2026. Daily inflows stand near 12.60 million XRP, far below earlier peaks that reached hundreds of millions of tokens.
Over a 30-day period, cumulative whale inflows have dropped to around 1.44 billion XRP. That is down from roughly 2.6 billion XRP in March. The steady decline suggests that large holders are moving less XRP onto the exchange, a pattern often associated with lower near-term selling intent.
Spot demand supports XRP while derivatives cap momentum
With whale exchange inflows falling and spot demand holding up, downside pressure appears lighter than before. Large holders often send assets to exchanges ahead of sales, so weaker inflows can indicate that immediate distribution risk has eased.
At the same time, perpetual futures traders have not shifted into an aggressive bullish stance. That matters. Spot demand can provide a base, but without support from leveraged positioning, upside momentum tends to build more slowly. The result is a market structure that favors consolidation over a rapid upward move.
Accumulation is visible, but conviction is not uniform
Based on the reported data, XRP is being supported more by actual buying than by speculative leverage. Lower whale inflows reduce one source of downside risk, and positive spot CVD shows that buyers remain active. Still, defensive futures positioning is keeping a lid on acceleration.
Unless that divergence narrows, XRP may continue to trade in a controlled range. Spot traders are supplying support underneath the market, while derivatives traders are still holding back. That split helps explain why XRP has stayed stable even as whale movements on Binance continue to decline.