XRP (XRP) is flashing two bullish on-chain signals as its price rebounds, with whale selling on Binance drying up as large wallets accumulate.

The token traded around $1.14 on Wednesday, up more than 2% on the day. Two sources point to accumulation, though spot activity complicates the bullish read.

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Whale Selling on Binance Runs Dry

Whale inflows to Binance have dropped, according to on-chain analyst Darkfost. Deposits from large holders fell to 25.3 million XRP.

That marks the lowest level since January 2025. At the peak, whales moved 583 million XRP, worth roughly $1.36 billion, onto the exchange.

The 90-day average tells the same story. It has dropped from about $460 million in early 2025 to near $69 million today.

Falling exchange inflows often signal that large sellers are stepping back. Fewer coins reaching Binance means less immediate supply pressure.

“This marks an essential first stage, the exhaustion of the largest XRP sellers on Binance, while price consolidates around $1 since June. This offers some relief for the price, which will now need a return of genuinely sustained demand to trigger a durable bullish move,” the analyst said.

XRP Large Wallets Accumulate as Retail Retreats

That easing supply is only half the picture. On-chain wallet data points to who is stepping in as the sellers fade. Wallet data from Santiment shows a clear split among holders. Addresses holding 100,000 to 100 million XRP added 2.8% over 5 weeks.

Meanwhile, micro wallets holding under 0.01 XRP cut positions by 5.2%. The divergence shows large investors buying while the smallest holders exit. Santiment noted XRP historically tracks the behavior of key stakeholders. 

“The timing also fits XRP’s improving market story, with institutional access through XRP ETF products, Ripple’s resolved SEC overhang, and continued XRPL utility around payments, tokenization, and RLUSD keeping the asset in focus,” the firm said.

However, not every signal supports the bounce. Overall, spot activity has weakened sharply on both Binance and South Korea’s Upbit.

Still, the quiet spot market cuts both ways. Thin volume signals fading interest, but it also shows retail fear of missing out (FOMO) has yet to arrive. That leaves room for demand to build rather than exhaust.

For now, the accumulation from large holders gives XRP a floor, not a launchpad. Sustained spot buying remains the signal to watch. Broader market conditions, however, still set the tone.

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Source: BeInCrypto