XRP whale outflows from Binance hit their lowest level in five years

Binance is the largest venue for XRP trading, and analysts have long used outflows by large wallets from the exchange as a proxy for accumulation into self-custody. Darkfost's 90-day moving average shows that signal flatlining: in February 2025, when XRP traded near $3.30, the measure averaged $3.5 billion. That cycle-high period marked aggressive whale withdrawal, the kind of behavior typically read as conviction ahead of further price moves.

With large holders pulling far less XRP off Binance, more supply sits parked on the exchange rather than moving into cold wallets, keeping it readily available for sale rather than locked away. Traders who watch exchange flows for early signs of accumulation have one less bullish cue to rely on. Retail holders gain no new buying trigger from whale behavior, while market-makers face a steadier, more predictable pool of on-exchange coins.

Exchange outflow data is a widely used but contested proxy: a drop can mean whales have already moved coins off-exchange long ago and have little left to withdraw, or it can mean genuine disinterest from large holders. Reading five-year lows as pure bearish signal ignores that on-chain flow metrics measure movement, not conviction or total holdings. Treating a single moving average as a verdict on an asset's whale sentiment overstates what the data can actually show. (per cryptobriefing.com)

The figure to track is whether Darkfost's 90-day moving average breaks from its current $49.7 million floor, and in which direction. A climb back toward the billions seen in February 2025 would signal renewed whale withdrawal and self-custody activity; a further slide toward zero would confirm large holders are staying passive on-exchange. Either move, not commentary, will settle whether this is a quiet pause or a structural shift in whale behavior.