On-Chain Data Shows XRP Sell-Off Driven by Liquidations, Not Whale Dumping
By
Jake Simmons
The bagel they save for the regulars. Don't skim, savour.
Summary
XRP's recent price decline is primarily driven by leveraged position liquidations and broader market weakness rather than large holders (whales) dumping their tokens. On-chain data from CryptoQuant, analyzed by contributor Pelin Ay, shows that XRP inflows to Binance—especially large million-token transfers—have not increased during the sell-off, contradicting the narrative of coordinated whale selling. The analysis suggests the pullback is more attributable to leverage flushes in the derivatives market.
Key quotes
· 2 pulledXRP's recent pullback may have more to do with leverage flushes and broader market weakness than a coordinated exit by large holders.
The analyst pointed to declining XRP inflows into Binance, particularly among million-token transfers, as evidence that whale selling pressure has not intensified during the drawdown.
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