XRP is rallying after several days of volatility and sharp price swings at the $1.50 level, as the market tries to stabilize following recent directional uncertainty. Although price action has slowed down, traders remain vigilant, looking for confirmation of further movement or deeper retracement.
Related Reading
Bottom line, on-chain data points to significant changes in market behavior. According to a report by CryptoQuant, XRP’s high-value pullback is becoming stronger across multiple markets, with Binance emerging as the main hub of this movement.
The Multi-Exchange Daily Outflow (>1M XRP) metric, which filters out the largest transactions, highlights a clear trend: whale-driven outflows shape current market dynamics. The data shows that Binance is consistently recording the largest withdrawals, underscoring its role as a major hub for XRP activity.
One of the most important events took place on February 6, when Binance saw a one-day outflow of 530 million XRP, which far exceeds the activity of other platforms. Recently, since the middle of March, Binance has continued to lead, with an average daily outflow of up to 50 million XRP.
At the same time, Coinbase recorded a significant withdrawal in early March, suggesting that the participation of institutions or large owners is not isolated, but rather part of a wider category of accumulation or redistribution.
A Whale-Dominated Market Structure From the XRP Family
The CryptoQuant report adds more clarity by breaking down XRP outflows by transfer size on Binance, giving a clear view of who is driving current market activity. Rather than focusing on the number of transactions, this data categorizes behavior based on the size of the transfer, revealing a clear hierarchy between participants.
Of particular note is the dominance of the 1 million XRP transfer group, which consistently holds the largest share of output. This confirms that whales are the main force behind the current movement, actively withdrawing significant amounts of XRP from the exchange. Such behavior is often associated with strategic repositioning, whether for long-term holding, OTC activity, or redistribution across jurisdictions.
The >100,000 segment of XRP is ranked second, indicating that middlemen are also influencing the trend, reinforcing the broader volatility of liquidity away from exchanges. This layered participation suggests that the output is not isolated to a few large enterprises, but represents a broad segment of the market.
In contrast, small transfers of less than 10,000 XRP remain ignored, highlighting the limited impact of trading activity on current flows.
Structurally, this distribution ensures a whale-driven marketplace, where major players dictate spending power and influence short-term supply conditions.
Related Reading
XRP Remains Trapped Within A Broad Downtrend
XRP’s daily chart continues to show a sustained downtrend with limited signs of a structural recovery, as the price covers around the $1.40–$1.50 range. After a sharp decline in early February, when XRP briefly fell to $1.20, the asset has entered a sideways phase, suggesting temporary stability but not a guaranteed reversal.
The general trend remains the same. XRP is still trading below all major moving averages, including the 200-day, which is moving lower and serves as a key resistance level. Short-term rates are also falling, reinforcing the view that momentum remains weak despite the recent consolidation.
Related Reading
Price action in recent weeks shows repeated rejection near the $1.50 level, indicating that this area is acting as a short-term resistance barrier. At the same time, the $1.30–$1.35 region provided constant support, forming a narrow trading range.
Volume analysis adds diversity. The reporting event in February was accompanied by a significant increase in volume, while the current consolidation phase shows reduced activity, suggesting a strong lack of confidence from both buyers and sellers.
Featured image from ChatGPT, chart from TradingView.com
