Waved whales refuse to sell? Why a drop in Binance flows could push XRP to $2

Although whales have been selling smaller amounts of XRP since 2025, the asset’s price is still falling below the $3 area due to liquidations and market weakness.

The broader cryptocurrency market may be facing bearish conditions, but XRP whales appear to be in a class of their own. The latest on-chain data suggests that this group of investors is selling fewer tokens on exchanges, raising questions about whether they have become more confident in the asset.

According to analysis According to CryptoQuant researcher Pelinay, a decline in sales from XRP whales, coupled with strong demand, could lead to a rally and help the sixth-largest cryptocurrency reconsider the $1.8 to $2 range.

Binance records low whale inflows

Belenai’s analysis cited data from the world’s largest cryptocurrency exchange, Binance. Transfers of over 1 million XRP began to decline in 2025 and have maintained this trend this year. Before the decline began, these forms of transfers dominated the charts during certain periods, reflecting huge inflows from whales and institutional addresses.

Inflows remained consistently high between 2021 and 2025, indicating that most market participants used Binance.

After peaking in 2025, XRP inflows above $1 million have begun to slow, reflecting weak selling pressure from large holders. The decline intensified after US authorities approved exchange-traded funds (ETFs) for XRP, indicating a decreased willingness of whales to dispose of their holdings.

The price of XRP is still low

When evaluating historical data, there is a clear trend of sharp spikes in XRP inflows ranging from 100,000 to 1 million and 1 million+ XRP before major market downturns. This means that inflows from these investor groups have increased selling pressure to the point where the asset takes significant hits.

“At the far right of the chart, no such unusual spike is currently visible. As a result, on-chain data does not indicate heavy whale selling or widespread profit-taking at this point,” Belenay said, referring to the Binance XRP flow chart.

Although whales have been selling smaller amounts of XRP since 2025, the price of the asset is still falling below the $3 area. At the time of writing, XRP is trading at around $1.10, down 10% weekly and 5% in 24 hours. Belenai attributed this price movement to leverage Liquidation The broader market weakened due to the down cycle.

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Ultimately, XRP can only be used hiking Higher if demand becomes stronger and flows to Binance remain weak. This is because available supply will continue to decline while demand accelerates.

“As long as there is no renewed rally in the 1M+ XRP inflow category, this constructive market structure may remain intact,” the analyst added.