XRP holders recently transferred over 31 million tokens into the Binance exchange, leading to uncertainties about how the price could react.
The price has dropped 51% since October 2025, though price swings have started to calm down in recent weeks. Even so, buyers have not stepped in with enough strength to spark a clear rebound, and XRP continues to move sideways around $1.39.
Now, a sudden transfer of more than 31 million XRP to Binance in a single day has raised fresh questions about where the price could head next.
Notably, on Feb. 21, XRP recorded 31 million tokens flowing into Binance, making it the biggest single-day inflow to the exchange this month, according to data provided by CryptoQuant, an on-chain analytics resource.
Earlier in February, daily deposits typically ranged between 1.2 million and 1.8 million XRP. While the market witnessed a few spikes above 15 million XRP, none crossed the 20 million mark. This makes the Feb. 21 movement the first time this month that inflows pushed past 20 million XRP.
Expectedly, large holders played the biggest role in this spike. Specifically, wallets holding 1,000 XRP moved 398,297 XRP to Binance that day. Those with balances between 1,000 and 10,000 XRP transferred 1.131 million XRP. Further, addresses holding between 10,000 and 100,000 XRP sent 4.985 million XRP.
The biggest contribution came from wallets with 100,000 to 1 million XRP, which transferred 11.935 million XRP. Meanwhile, holders with more than 1 million XRP transferred 11.844 million XRP. Altogether, these groups moved 31.75 million XRP to Binance on Feb. 21.
Interestingly, the Feb. 21 inflow spike was not limited to Binance. Upbit, the largest crypto exchange in South Korea, also recorded a sizable inflow on Feb. 21, though it was much smaller than Binance’s figure. Specifically, Upbit saw 14.8 million XRP flow into the platform that day.
While whales contributed the most to Binance’s inflows, on Upbit, mid-sized holders drove most of the action. Notably, wallets holding between 10,000 and 100,000 XRP transferred 8.615 million XRP, which accounted for 58% of the 14.8 million total.
Meanwhile, addresses with 1,000 to 10,000 XRP moved 1.48 million XRP. Whales holding 1 million XRP and above transferred 4.7 million XRP. The mixed signals from two major exchanges have left investors unsure about what might come next.
Notably, a one-day exchange inflow of about 31 million XRP holds different indications. Most traders see large whale deposits to exchanges as a sign that some holders plan to sell. If even part of that 31 million XRP hits the market, it could limit any rally or cause short-term dips.
There is also the possibility that these tokens moved for trading strategies, derivatives collateral, or arbitrage. In that case, the inflow would not automatically mean net selling. Large transfers sometimes happen near market bottoms, and if the market absorbs the supply while the price stays firm, this could indicate solid demand underneath.
The next few days could reveal signals that may help determine price direction. Notably, if exchange netflows continue to spike, this could suggest more holders are preparing to sell. On the other hand, if netflows turn negative and withdrawals exceed deposits, this may indicate that investors are accumulating after repositioning.
Investors should also watch for order book activity. Notably, if large sell walls build within 1% to 3% above the current price and buying interest weakens, sellers could take control. However, if thick buy walls appear near support and spot trading volume rises while XRP holds between $1.35 and $1.40, buyers may prove they can absorb the extra supply.
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