XRP Whales Hit 7-Month High on Binance

Large XRP holders are transferring more coins to Binance, and the total has reached its highest level in seven months. At the same time, the price is sliding. XRP trades near $1.30 after falling below the 100-day moving average, the orange line on the daily chart. CryptoQuant data shows the 30-day sum of whale deposits to Binance is now near 1.6 billion XRP. That is close to the level seen in early April. In late July it dropped to approximately 400 million, so the total has roughly quadrupled in under three months. The largest single day came in mid-August, when deposits spiked just as XRP jumped toward $1.70. This matters because coins on an exchange can be sold quickly.

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