XRP Whales Hoard Over 720M Tokens Amid Accumulation Opportunity

XRP whale wallet withdrawals have exceeded 720 million tokens since June 3, according to data from CryptoQuant. The majority of these withdrawals came from Binance, with over 425 million XRP removed from the platform.

This significant outflow has led to a decrease in the available supply of XRP on major exchanges, reducing the amount that can be immediately sold on order books. As a result, market indicators signal an ideal accumulation period amid lingering weakness.

The concentration of XRP wallet activity has grown, with Upbit's share of XRP wallet flows reaching 31% on June 14, its highest level since May 2024. Amr Taha notes that this rotation toward Upbit coincided with a 5% rebound in XRP to $1.30 on Monday.

The Binance Whale vs. Retail Spread metric shows whales continue to dominate XRP outflows, with the spread standing near 90%. This suggests that large holders still account for the majority of XRP withdrawals on Binance.