Key Insights:
- Whale wallets dropped 200 million XRP in two days, triggering fresh sell pressure across exchanges.
- Exchange inflows spiked to 70 million XRP as price fell below $2.25 during peak activity.
- Whale transaction count hit 716 in one day, the highest level recorded in four months.
On November 15, XRP saw a large spike in high-value transactions. Data shows 716 transactions, each over $1 million, were recorded on that day alone. This is the highest count in four months, according to Ali Martinez . The activity reflects a sudden increase in movement by large holders.
This came as XRP’s price was falling. The asset dropped to $2.283 during the same period, down from earlier levels above $3.00. Large movements of this kind often suggest a shift in market behavior, especially when they occur during price declines.
Over 70 Million XRP Moved to Binance
Supporting the above, data from CryptoQuant shows a large inflow of XRP into Binance. On the same day as the whale transaction spike, over 70 million XRP were sent to the exchange. This was the highest inflow volume during the entire week.
Between November 9 and November 15, XRP’s price dropped from above $2.50 to around $2.236. The timing suggests that large holders may have been preparing to sell, increasing supply on the exchange. This pattern often reflects rising sell pressure during market corrections.
200 Million XRP Dumped by Mid-Sized Whales
Wallet data also confirms the selling. Charts from Santiment show that addresses holding between 1 million and 10 million XRP cut their balances by 200 million XRP in just 48 hours. Total holdings dropped from 5.83 billion to 5.63 billion XRP.
This drop lines up with the price decline and exchange inflows. The reduction in holdings confirms that whales were active during this period.
As Ali Martinez reported,
“Whales dumped nearly 200 million XRP in just 48 hours!”
Price Weakens as Traders Watch Support
XRP was trading at $2.25, with a daily trading volume of $2.86 billion. It is down 0.3% in 24 hours and 1.7% over the past week. This follows the sharp increase in whale activity and movement to exchanges.
The recent data suggests a key shift in behavior by large holders. Whether this continues to affect price remains to be seen. Market watchers are now focused on whether current support levels will hold or break in the days ahead.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/whales-just-sold-200m-xrp/