A significant movement of Ripple\u2019s XRP token by large-scale investors to the Binance exchange throughout October coincided with a steep price drop for the digital asset.<\/p>\n
Data from the first two weeks of the month shows that whale activity shifted from a period of calm in September to aggressive depositing, creating substantial selling pressure that pushed the price down approximately 20% from its early-October level.<\/p>\n
CryptoQuant analyst Arab Chain pointed out that the movement peaked<\/a> between October 10 and 12, coinciding with a drop in XRP\u2019s price from around $3.10 to $2.40 within days. According to them, the pattern signals that whales may have been locking in profits or hedging after last week\u2019s volatile rebound.<\/p>\n \u201cThis pattern is often interpreted as an indicator of whale-driven selling pressure, as increased flows to centralized exchanges typically reflect intentions to sell or take profits, especially when accompanied by a decline in price.\u201d<\/p>\n The inflows marked a reversal from September\u2019s calm, when exchange transfers were minimal. The market technician noted that each wave of heavy inflows matched with a steep price correction, suggesting direct market impact from whale activity.<\/p>\n As inflows began to taper after October 11, XRP stabilized near $2.60, indicating the end of the intense liquidation phase. This shift reflected the asset finding a temporary equilibrium as liquidity exited the market.<\/p>\n The on-chain data is supported by findings from market commentator Ali Martinez, who reported on October 14 that whales had sold<\/a> 2.23 billion XRP tokens since October 10.<\/p>\n The divestment, worth about $5.5 billion, has reduced the group\u2019s collective holding to 12% of the asset\u2019s circulating supply. Such a substantial sell-off from influential market participants often creates anxiety among smaller investors and can lead to increased market supply without a corresponding rise in demand.<\/p>\n At the time of writing, XRP had seen a 3% increase in the last 24 hours, bringing its price back up to $2.52. However, it remains down 11.1% over the past seven days and 17% monthly, according to CoinGecko data.<\/p>\n This downturn occurred despite a powerful 160% recovery<\/a> from lows near $1.00 recorded on October 13, a bounce that followed the $19 billion crypto liquidation event from last weekend.<\/p>\n However, not everyone agrees on the integrity of current price data. Analyst EGRAG CRYPTO, writing on October 14, criticized<\/a> inconsistencies across exchanges such as Binance and Coinbase, claiming that distorted data led to exaggerated volatility.<\/p>\n They said that going forward, They would rely on an aggregated \u201cCrypto Data Set,\u201d and identified $1.40 as the new baseline for XRP\u2019s long-term analysis. From a technical perspective, they also identified $2.65 as a critical level for the Ripple token to overcome.<\/p>\n The post XRP Price Plunged 20% Amid Significant Whale Inflows to Binance<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" A significant movement of Ripple\u2019s XRP token by large-scale investors to the Binance exchange throughout October coincided with a steep price drop for the digital asset. Data from the first two weeks of the month shows that whale activity shifted from a period of calm in September to aggressive depositing, creating substantial selling pressure that […]<\/p>\n","protected":false},"author":0,"featured_media":104907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-104906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/104906"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=104906"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/104906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/104907"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=104906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=104906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=104906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Analysts Split as Technical Signals Flash Mixed Outlook<\/h2>\n