XRP Sell-Off Driven By Liquidations, Not Whale Dumping: On-Chain Data
XRP’s pullback appears driven more by leverage liquidations and broader market कमजोरी than by heavy whale distribution, according to CryptoQuant contributor Pelin Ay. She points to falling XRP inflows to Binance, especially in the 100K–1M and 1M+ XRP bands, as evidence that large holders are not increasing exchange deposits during the decline. Historically, sharp drops in XRP often coincided with spikes in these large inflow bands, which can signal potential sell-side pressure. Ay says that pattern is missing now, suggesting less aggressive profit-taking or whale selling. In her view, the current move lacks the on-chain signature of a classic whale-led capitulation and instead resembles a liquidation-driven selloff. She adds that if Binance inflows stay low, available selling supply should ease, making a recovery toward the $1.8–$2.0 range easier if demand improves. XRP was trading at $1.1444 at press time.
