Whales pulled more than 720 million XRP from exchanges, as various data points converge to predict a potential 50% rally.
Since June 3, more than 720 million XRP (XRP) tokens have left crypto exchanges, and Upbit's share of XRP wallet flows has climbed to its highest level since May 2024.
The shift comes as XRP rebounded to $1.30 on Monday, with large holder activity continuing to dominate exchange flows and market indicators signal an ideal accumulation period amid lingering weakness.
Data from CryptoQuant shows that XRP’s multi-exchange daily outflow indicates repeated withdrawals of more than 1 million XRP per transaction. Between June 3 and June 14, major crypto platforms recorded roughly 722 million XRP in large daily outflows, highlighting the most sustained activity from whale-sized wallets since early February. Binance whales led the outflows, with 425 million XRP.
XRP exchange daily outflows above 1 million tokens. Source: CryptoQuant
While large withdrawals do not confirm accumulation, they reduce the amount of XRP immediately available for sale on exchange order books.
A separate exchange-flow metric points to a growing concentration of XRP wallet activity on Upbit. According to crypto analyst Amr Taha, Upbit's XRP net wallet flow dominance climbed to 31% on June 14, up from 13% a week ago, its highest level since May 2024.
Taha said XRP's 5% rebound to $1.30 on Monday coincided with a clear rotation toward Upbit. Deposit-wallet activity became increasingly concentrated on the South Korean exchange while several major platforms lost market share.
Another Binance metric shows whales continue to dominate XRP outflows. The Binance Whale vs. Retail Spread measures the difference between whale-sized withdrawals of 100,000 XRP or more and retail-sized withdrawals below that threshold.
The spread currently stands near 90%, indicating that large holders still account for the majority of XRP outflows on Binance. Last month, Taha noted that repeated declines toward the May 2024 range suggested a shift in Binance's withdrawal profile from the 2024-2025 bullish period.
XRP’s Binance whale vs. retail spread (%). Source: CryptoQuant
While the indicator should not be viewed as a direct bullish or bearish signal, the analyst said that it tracks withdrawal behavior rather than exchange selling activity.
Source
This article is syndicated for educational reading. For the latest updates, visit the original publisher.
Read on cointelegraph.com
