- All-CEX whale spread climbed 24.9 points to 50.9% as large outflows gained share.
- Binance’s whale-retail gap fell 17.4 points to 44.6%, trailing the market average.
- XRP ETFs drew $144.69 million across seven green weeks as derivatives stabilized.
XRP whale activity is spreading across centralized exchanges, while Binance records a different pattern, and ETF inflows show demand. CryptoQuant analyst Taha reported that the seven-day all-CEX Whale vs. Retail Spread rose from 26.0% on May 6 to 50.9% on June 29.
The 24.9-point increase shows transfers above 100,000 tokens now represent a larger share of exchange outflows than smaller transactions.
Binance Trails as Whale Outflows Broaden Across Exchanges
According to the report, Binance’s reading fell from 62.0% on June 11 to 44.6% by June 29. That 17.4-point decline placed Binance 6.3 percentage points below the broader centralized exchange average.
The indicator compares outflows from transfers above 100,000 XRP with those at or below that threshold. Basically, higher readings show whale-sized transfers account for more exchange outflow activity.
The divergence shows that large-holder activity is becoming more distributed across trading platforms. However, the metric cannot determine whether those transfers involve selling, accumulation, custody movements, or internal wallet restructuring.
On the other hand, ETF data added another measurable layer. According to X Finance Bull, XRP products recorded $15.63 million in net inflows on June 26.
Meanwhile, Ethereum products posted $12.85 million in outflows that day, while Bitcoin products lost $444.51 million. XRP funds also completed seven positive weeks, totaling about $144.69 million.
Over the same period, Bitcoin products recorded approximately $7.73 billion in outflows, while Ethereum products lost around $1.18 billion. Against this backdrop, the commentator argued that XRP’s positive inflows reveal a widening gap between its subdued price performance and institutional demand through regulated investment products.
The analyst further argues that such inflows are often associated with slower-moving capital, as professional investors generally build exposure gradually rather than react to short-term market excitement.
Long Exposure Rebuilds as Ledger Activity Improves
The improving ETF picture was further accompanied by a recovery in derivatives positioning near the $1.05 price level. Market analyst CW reported that net position delta rebounded to approximately negative $69 million after previously falling below negative $100 million.
Similarly, open interest remained elevated near $359.5 million, showing continued participation despite weak price action. Long positions also increased, although the broader downtrend remained intact.
Meanwhile, Vet reported stronger XRP Ledger fundamentals since the last decentralized exchange activity surge in November 2024. The network now includes improved software, friendlier applications, quicker onboarding, and planned amendments covering batch transactions, lending, and privacy.
Together, the data shows whale outflows widening beyond Binance, ETF demand remaining positive, and derivatives participation stabilizing during continued price weakness.
Related: XRP Faces a Make-or-Break Test at $1.06 Amid Bottoming Signals
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