Whale Sell-Off Sparks 20% XRP Price Crash as Billions Flow to Binance

XRP’s recent rally came to a sudden halt this week after large-scale investors — commonly known as whales — moved billions of tokens to Binance, sparking a 20% plunge in the token’s price.

On-chain data shows that between October 10 and 12, major wallets began transferring huge amounts of XRP to centralized exchanges, a move that coincided with the asset’s fall from around $3.10 to $2.40.

Whale Inflows Trigger Market Shock

Analysts say the surge in exchange deposits is a clear signal of profit-taking or risk hedging by whales following XRP’s volatile rebound earlier this month. Historically, such inflows tend to precede price corrections, as tokens sent to exchanges are often sold shortly after.

The sell-off marked a stark contrast to September, when XRP saw little exchange movement and traded within a calm range. Each wave of deposits this month directly aligned with sharp price drops, suggesting whales were a primary driver behind the market pressure.

As inflows began to subside after October 11, XRP managed to stabilize near $2.60, hinting that the heaviest selling phase had passed.

$5.5 Billion Offloaded by XRP Whales

Market data indicates that whales collectively sold around 2.23 billion XRP tokens worth roughly $5.5 billion since October 10. This reduced their total holdings to just 12% of XRP’s circulating supply.

Such large-scale sell-offs tend to shake investor confidence, increasing short-term volatility and liquidity stress in the market. Smaller traders often react by following the selling trend, amplifying downward pressure.

Analysts Divided on What Comes Next

At press time, XRP had recovered slightly, trading at around $2.52 — up 3% on the day but still down more than 17% for the month. Despite a brief surge from $1.00 to $2.40 following the recent crypto-wide liquidation, sentiment remains fragile.

Some analysts see potential for consolidation near $2.50 before another move higher. Others, however, warn that XRP could test lower support levels if whale activity resumes.

Independent market watcher EGRAG CRYPTO has also raised concerns about inconsistent pricing across major exchanges like Binance and Coinbase, suggesting that inaccurate data feeds may have amplified recent volatility.

They identified $1.40 as a potential long-term support level for XRP, while viewing $2.65 as the next key resistance point the token must reclaim to confirm bullish momentum.

For now, XRP’s outlook depends on whether whale selling continues — or if accumulation returns once prices stabilize.