- XRP held on Binance fell to a five-month low, reducing the supply immediately available for potential selling.
- Whales made up 77.8% of XRP exchange outflows, signaling large holders led recent token withdrawals.
- Large XRP wallets continued accumulating as analysts watched key support and resistance levels for the token.
XRP held on Binance has fallen to its lowest level in five months, suggesting fewer tokens are immediately available for sale as large holders move coins off the exchange.
CryptoQuant analyst Arab Chain said Binance’s Exchange Supply Ratio had declined to 0.02605. XRP traded near $1.14 as investors assessed whether the shift pointed to easing selling pressure.
The Exchange Supply Ratio measures the amount of XRP held on Binance relative to the token’s circulating supply. A lower reading can indicate that investors are moving coins into private wallets or other destinations, although it does not necessarily point to an imminent price increase.
Whale Outflows Take Greater Market Share
CryptoQuant analyst Amr Taha said large XRP holders accounted for a record share of tokens leaving centralized exchanges on July 22. Whale dominance in exchange outflows rose to 77.8%, while retail investors made up the remaining 22%, according to the data.
The figures marked a sharp shift from May 6, when whales accounted for 63% of exchange outflows and retail investors represented 36%. On Binance, whale dominance reached 71%, suggesting larger holders were responsible for most of the exchange’s XRP withdrawals.
The outflow dominance metric measures the share of exchange withdrawals attributed to whales versus retail investors. It does not indicate the total amount of XRP moved or where the tokens were sent after leaving the exchanges.
Major Investors Continue Accumulating XRP
Santiment Intelligence said wallets holding between 100,000 and 100 million XRP increased their holdings by 2.8% over the past five weeks, extending a period of accumulation among some of the token’s biggest investors.
Over the same period, wallets holding less than 0.01 XRP reduced their balances by 5.2%. Santiment said XRP’s price has historically been influenced more by activity among large holders than by smaller retail wallets.
The accumulation comes as XRP attracts renewed investor interest following the launch of exchange-traded fund products tied to the token and continued development on the XRP Ledger. The market has also benefited from greater regulatory clarity after Ripple’s long-running legal dispute with the U.S. Securities and Exchange Commission was largely resolved.
Analysts Map Wider XRP Targets
Independent market analyst EGRAG CRYPTO outlined a long-term technical outlook for XRP based on what he described as three rising cyclical bottoms. His analysis identified the $0.90 to $1.00 range as a key support area, with $1.23 serving as an initial level that bulls would need to reclaim before higher price targets come into focus.
Beyond that, the analyst pointed to resistance around $1.56, followed by a broader range between $2.38 and $3.54. He also highlighted longer-term Fibonacci levels near $9.28, $15.35 and $31.65, though he cautioned that the third cyclical bottom has yet to be confirmed.
Related: XRP Price Prediction: Can XRP Reach $1.3 as Binance Sell Pressure Dries Up?
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