- Crypto whales withdrew 122M XRP from Binance, the highest since February.
- The net outflows suggest accumulation around the $1.35 and $1.40 range.
- Binance XRP liquidity and reserves are falling to multi-year lows.
Big XRP investors are once again moving large amounts of XRP off Binance. According to CryptoQuant analyst Amr Taha, Binance recorded 122 million XRP in withdrawals on May 22, with each transaction exceeding 1 million XRP.
This is the largest whale withdrawal since February, even though XRP’s price is still lower than it was during the previous surge.
Specifically, this figure marked the first 100 million-plus whale withdrawal day since February 9. At the time, large withdrawals reached 278 million XRP. Meanwhile, what stands out this time is the price environment.
While the February spike occurred when XRP traded near $1.43, the latest withdrawal surge happened with XRP hovering around $1.35, roughly 5.6% lower.
The data suggest that large holders continue to remove XRP from exchanges despite weaker prices. Some traders interpret this pattern as a sign of accumulation, potentially supporting price rebounds.
Binance Whale Activity Points to Key XRP Accumulation Zone
Taha also pointed to another major trend among Binance whales. On May 22, XRP whale net inflow on Binance dropped by $49.2 million while XRP traded below $1.35. A negative net flow means whales removed more XRP from the exchange than they deposited.
This wasn’t a one-time move. Similar large withdrawals occurred several times earlier this year, around the same price range:
- February 27: negative whale net flow of $60.7 million near $1.38
- March 6: negative whale net flow of $35.5 million
- March 26: negative whale net flow of $37 million near $1.37
The repeated withdrawals between $1.35 and $1.40 have established that range as a clear accumulation zone for Binance whales.
Since Binance is one of the world’s largest XRP trading platforms, continued negative whale net flows are a sign that large investors are moving XRP into long-term holding wallets rather than preparing to sell.
However, analysts warn that whale withdrawals alone do not guarantee a quick price recovery, especially as the broader crypto market remains weak.
XRP Liquidity on Binance Falls to Lowest Level Since 2020
Adding to the trend, CryptoQuant analyst Arab Chain said XRP liquidity on Binance has fallen to its lowest level since January 2020.
According to the 30-day liquidity index, the metric has dropped to about 0.043 while XRP trades near $1.34. This decline shows that market depth has weakened and that there is less trading liquidity available than in previous years.
The liquidity index previously rose above 3 and 4 during periods of higher volatility and stronger trading activity between 2022 and 2024. However, in recent months, liquidity conditions have deteriorated sharply.
Lower liquidity can make the market more sensitive to large buy or sell orders, potentially causing bigger price swings if trading activity suddenly increases.
Although low liquidity is not necessarily bullish or bearish, it often reflects cautious traders and reduced speculative activity.
Binance XRP Reserves Drop to Three-Month Low
At the same time, Binance’s XRP reserves have been falling. The exchange now holds about 2.70 billion XRP, the lowest level in three months. Lower reserves usually mean fewer coins are available for immediate selling, as investors may be moving XRP into private wallets or cold storage instead of keeping them on exchanges.
This drop in reserves has coincided with lower price volatility and quieter trading activity recently.
Falling reserves, together with large whale withdrawals and weaker liquidity, could mean less XRP is available for sale if demand increases.
However, lower reserves do not always signal bullish behavior, as they can also reflect reduced trading activity rather than true long-term accumulation.
Related: XRP Price Prediction: ETFs Lock Up 881M XRP as CLARITY Act Sends Bill to the Senate Floor
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