Whales now account for 77.8% of all XRP outflows across centralized exchanges, up from 63% on May 6, according to CryptoQuant contributor Amr Taha. Retail investors make up just 22%, the lowest share recorded in the dataset. The gap between the two groups has stretched to 55.8 percentage points in roughly ten weeks.
The numbers behind the shift
Binance tells a similar story, though retail remains slightly more present there. Whale outflow dominance on Binance climbed to 71% from 67% in early May, while retail slid from 32% to 28.7%, pushing the spread to 42.3 percentage points.
On the deposit side, the drop is even sharper. Large Binance inflows collapsed from 583 million XRP to just 25.3 million XRP. In dollar terms that means the flow shrank from roughly $1.36 billion to about $23 million. The 90-day average tells the same story: average whale inflows fell from around $460 million in January 2025 to $69 million. Binance's 30-day whale inflow figure hit 947.4 million XRP, a two-month low.
One important caveat: these figures track each group's share of total withdrawals, not absolute volume. Where the coins went after leaving exchanges is unknown. Self-custody, institutional vaults, internal reshuffling, or staging for later trades are all plausible destinations.
How analysts are reading the data
Market analyst Darkfost described the steep drop in large Binance deposits as an early sign of seller exhaustion. Fewer tokens arriving at an exchange means less immediate sell pressure, at least in theory. Existing balances and smaller transfers can still hit the order book, so the pattern does not prove whales have stopped selling altogether.
XRP briefly touched $1.16 before settling near $1.14. Traders watching price structure say the token needs to clear the $1.24 to $1.28 zone before a run at $1.35 becomes credible. The breakout attempt is still live, but on-chain flow data alone cannot confirm whether accumulation is actually happening.
This article is for informational purposes only and does not constitute financial advice. Crypto markets are volatile and past data does not guarantee future results.
