$XRP has continued to flash mixed signals as its price trades sideways. Amid this weak momentum, it appears that large holders are increasingly dumping tokens on exchanges.
While whale activity on the world’s largest crypto exchange, Binance, continues to provide a bearish signal, the latest data from CryptoQuant shows that deposits from large $XRP holders have yet to return to the relatively low levels seen before late 2024.
$XRP retests $0.90
Following a sharp price correction last week, $XRP has retested its multi-year low at around $0.90, falling massively from its Q1 2025 high above $3.
$XRP has lost a notable portion of its market value as the broader market continues to struggle amid prolonged volatility. Alongside its rapid price decline, $XRP‘s whale-to-exchange activity on Binance has also seen a major divergence from the pattern seen in previous years.
Per the data, large $XRP deposits to Binance remained muted from 2017 through late 2024, showing no major movement. However, the metric saw a few periods of increased activity, notably around March 2020 and early 2021.
$XRP whale activity retains 2024 behavior
The trend changed in late 2024 when $XRP began to rally from about $0.50 to above $2.50. At this time, whale deposits began to surge, moving gradually orders of magnitude higher than the previous seven-year levels.
The data further revealed that the surge in activity did not disappear after $XRP reached its peak; it has continued to increase even to this point.
Notably, the market has seen large $XRP deposits on Binance continue to increase throughout 2025 and into 2026, even as $XRP‘s price has declined. This suggests that whale behavior has yet to fully reverse, providing mixed signals for the asset.