Whales Withdraw $170M From Binance as XRP Holds $1.35-$1.40
Whales withdrew 122 million XRP-about $170.8 million-from Binance on May 22 as XRP traded near $1.35-$1.40, while U.S. spot XRP ETFs recorded 16 straight days of inflows totaling $116.75 million.
Large holders moved 122 million XRP off Binance on May 22, equal to roughly $170.8 million at prevailing rates, according to on-chain exchange data from CryptoQuant. The outflow was the first single-day withdrawal above 100 million XRP since a 278 million XRP exit in early February.
The May 22 withdrawals occurred while XRP was trading around $1.35, contrasted with the February outflow, which took place when XRP was near $1.43. Amr Taha of CryptoQuant wrote in a QuickTake post, ‘Repeated withdrawals near the same price range may indicate that some larger players view this area as a value zone.’
Flow records for U.S.-listed spot XRP exchange-traded products show positive net inflows for 16 consecutive trading days, totaling $116.75 million. Those inflows were recorded alongside the exchange outflows referenced above.
XRP has traded in a roughly $1.30 to $1.50 range since early February. Market commentators on social platforms have highlighted $1.30 as a key support level. ChartNerd wrote on X, ‘ $1.30 is a current guardrail,’ and added that losing that level could open the way to the lower $1 range.
Technical indicators point to compressed volatility: Bollinger Bands are at their tightest since mid-2024. Historical episodes of similar band compression were followed by moves that ranged between about 58% and 82% in prior periods. Some analysts outline scenarios that assume a decisive move above the $1.50 area; one near-term upside projection cited is $2.33 if price breaks above $1.50. Analyst Crypto Patel described the present trading band as the ‘best accumulation zone’ and has cited a longer-term target of $10 under a repeat of prior cycle patterns.
For historical context, XRP traded in a multi-year band from May 2022 through November 2024; a break above the upper limit of that earlier range at $0.68 preceded a roughly 400% rise to about $3.40 in January 2025. Market participants continue to monitor exchange outflows, ETF inflows and price behavior around $1.30 support and $1.50 resistance for indications of how supply and demand are evolving.
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