XRP whale inflows to major exchanges have spiked according to on-chain data, indicating renewed activity from large holders. The 30-day average of large wallet transfers to Binance has risen to roughly 2.54 billion XRP. While the token’s price saw a modest 3% increase, analysts note that key resistance levels have not been broken and bearish pressure persists, with support levels at approximately $1.11 and $0.87.
Amid a broader market uptick, XRP posted a modest 3% increase over the past 24 hours. There has also been a notable surge in token whale inflows to Binance.
The 30-day average of large wallet transfers to the exchange has risen to roughly 2.54 billion XRP. This signals renewed activity from major holders after a previous period of relative decline.
Daily whale inflows currently hover around 50 million XRP, which is indicative of ongoing engagement. The whale flow metric is often used to gauge potential changes in the supply available for trading.
CryptoQuant stated that the recent increase points to a gradual buildup rather than a single large transfer. Historically, whale inflows coincide with sensitive price phases and potentially influence XRP’s short-term market direction.
Data still show signs of bearish pressure despite the slight price appreciation. Analyst CasiTrades recently observed that the recent trendline break is forming resistance.
Attention has shifted toward support levels at approximately $1.11 and $0.87 as the price dropped below a previous low. Local resistance around $1.40 remains significant, and as long as XRP trades below it, downward momentum may continue.
On the institutional side, US spot XRP ETFs remained subdued. According to data compiled by SoSoValue, no net inflows or outflows were recorded on February 20 and 23.
On February 24, Bitwise’s XRP ETF bucked the trend with $3 million in inflows.
