XRP Whale Netflow on Binance Drops to New Record Low

Binance recorded an unusually large XRP whale outflow on Oct. 29, when transactions involving more than 1 million XRP reached 283 million tokens. As a result, whale netflow also fell to -226 million XRP, making it one of the largest single-day outflows ever recorded on the exchange. The figure was 2.72x greater than the previous record of -83 million XRP, which Binance recorded in September 2022. However, the massive outflow did not come from a market sell-off or a sudden decision by investors to move away from XRP. It followed a major security breach that allowed an attacker to withdraw hundreds of millions of XRP from Binance.

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