XRP whale deposits to Binance hit 7-month high as price falls below key support

Large XRP holders have ramped up their transfers to Binance, bringing whale deposits to the cryptocurrency exchange to the highest levels seen in seven months. This development comes as XRP’s price continues to slip, trading close to $1.30 after it fell below major technical support levels. Data from blockchain analytics firm CryptoQuant shows the 30-day total of significant XRP deposits to Binance stands at nearly 1.6 billion tokens. This figure matches levels reported in early April. By late July, the sum had fallen to about 400 million XRP, so the pace of large-holder deposits has quadrupled in less than three months. The most substantial single-day deposit activity occurred in mid-August, coinciding with XRP briefly rallying to $1.70.

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