XRP whales withdrew 231 million XRP from Binance in a single day.

Blockchain outlet The Crypto Basic reported on Aug. 26 that the withdrawals were the largest in the past six months, and that large holders’ XRP movements have emerged as a new variable for the market.

CryptoQuant analyst Darkfost said the withdrawals exceeded $335 million at the time. Compared with the past 90 days’ average net whale outflow of about $40 million, the move was closer to a case of a large amount of money leaving in a short period.

The movement coincided with a surge in XRP prices. XRP’s market capitalisation increased by about $44 billion in three days, and the price rose more than 70 percent from $0.987 to as high as $1.70. Darkfost viewed the withdrawal trend as a shift to personal wallets outside centralised exchanges, which could reduce immediately tradable supply. He mentioned the possibility that an accumulation phase supported the recent uptrend.

The market also saw higher inflows alongside larger withdrawals. CryptoQuant analyst Arab Chain said whale XRP inflows into Binance over the past 30 days were about 1.451 billion XRP, the highest in four months. Inflows fell through July and early August, but recovered from mid-August, he said, with repeated large daily inflows lifting the 30-day total.

Arab Chain said the rise in inflows was not due to a single large transaction. He said it was the result of a steady increase in whale activity over several weeks. This suggests some large holders may be moving tokens off exchanges while others may be readjusting positions in and out of Binance.

An increase in exchange inflows can generally be read as a signal that the possibility of selling is rising. It could also be portfolio repositioning or preparation for expected market moves. In contrast, large withdrawals can reduce immediately sellable supply on exchanges and could affect prices from a supply-and-demand perspective.

Against that backdrop, the XRP market has entered a phase in which whale inflows and outflows are rising at the same time. Darkfost said XRP could test $2 in a relatively short time if the accumulation trend continues. He added that what is confirmed so far is a clear expansion in whale activity, and that the future price direction depends on how fund flows in and out of Binance develop.

XRP whale outflows hit 6-month high while $44 billion floods into market cap Outflows of XRP categorized as "whale" transactions on Binance have surged notably in recent days. More than 231 million XRP have been withdrawn by whales from Binance, marking their highest… pic.twitter.com/9iahQM8AvO