XRP Whales Drive Exchange Inflows, Raising Short-Term Price Recovery Risks

XRP's price recovery is under scrutiny as on-chain data reveals a significant influx of over 31 million XRP into Binance from large holders. This concentrated inflow has raised concerns about potential sell-side pressure, which could negatively impact the cryptocurrency's short-term market momentum.

According to CryptoQuant contributor Darkfost, this sudden increase in supply coincides with a weak altcoin market and Bitcoin's rangebound condition. The data suggests that large holders are driving this influx, with over 31 million XRP transferred to Binance in a single day.

The chart shared by Darkfost highlights the dominance of large holder inflows, with nearly all of the move attributed to wallets holding between 100k-1M and >1M XRP. This concentration of supply raises concerns about potential market-moving pressure on XRP's short-term price recovery.