A recent analysis by CryptoRank reveals a substantial withdrawal of XRP from Binance, totaling 122 million in transactions exceeding 1 million XRP each.
This is the largest whale withdrawal since February 9, when 278 million XRP was moved. Notably, the current withdrawal occurs at a lower price point than the previous surge.
According to on-chain data, the withdrawals indicate off-exchange accumulation around $1.35-$1.40, which could lead to reduced sell pressure and potentially support the XRP price.