XRP whale wallets' outflows from exchanges have fallen to the lowest level since October 2021.

The 90-day moving average of XRP whale outflows on Binance now stands at $49.7 million, blockchain outlet The Crypto Basic reported on Sunday.

In February 2025, when XRP traded around its cycle peak of $3.30, the measure surged to $3.5 billion. There were days when daily outflows exceeded $10 billion. At the time, large investors withdrew large amounts of XRP from Binance and moved them to private wallets.

Whale withdrawals then steadily declined. The 90-day moving average fell from $3.5 billion to $49.7 million, returning to October 2021 levels. It means activity by large holders has shrunk sharply compared with the previous bull market.

Exchange withdrawals by whales are typically interpreted as a sign of accumulation. Moving tokens to private wallets reduces the amount that can be sold immediately on exchanges. Conversely, a sharp drop in withdrawals could mean whales are slowing their buying pace and waiting for a price rebound.

XRP held up relatively well in this downturn compared with other cryptocurrencies. The analysis is that, unlike in 2022 to 2023 when sharp declines created chances to buy at low prices, this cycle has offered relatively fewer opportunities to buy at lower prices.

Recent price action, however, has been weak. XRP is now around $1.33, down about 60 percent from its cycle high, and it has also fallen 2.55 percent over the past week. Without active whale buying, it may be difficult to absorb selling pressure, making a sustained rebound hard, the report said.

About 60 percent of XRP in circulation last changed hands near $1.48, above the current price. If prices approach that level, selling aimed at recouping principal could pour out and act as resistance that blocks further gains.

Still, the market has not turned negative. There have been cases where a rebound followed a drop in trading activity and investor interest to very low levels. If selling pressure weakens, new buying could influence prices even before market sentiment improves in earnest.

The next points to watch are clear. If XRP moves above $1.65 and buying activity strengthens again, the outlook for gains could improve. If it slips below $1.27, additional downside pressure could increase. Ultimately, whether this sharp drop in whale outflows is simply a waiting phase or a sign of a prolonged downturn will depend on whether demand from large investors revives.