XRP Whale Inflows to Binance Top $900 Million as Price Falls Below $1.30
Key Facts
XRP whale inflows to Binance on November 8 reached their highest daily level since 2024, with deposits worth more than $900 million, according to an analysis published by Darkfost via CryptoQuant. About 691 million units of the cryptocurrency arrived at the exchange in one day as its price fell below $1.30. The analysis said the inflow surpassed the previous record, set in February 2026 during a wave of market capitulation. This places the transfers in the context of the price decline, with the volume sent to the trading platform reaching a level not seen for years. Darkfost said, "An analysis of XRP whale inflows to Binance reveals the largest daily inflow since 2024."
The increase was not limited to the daily inflow: the 90-day moving average of inflows exceeded $100 million a day, its highest level in nearly six months, according to CryptoQuant. The indicator suggests deposit activity remained elevated over a longer period than the record transfer day. This came as XRP was trading more than 67% below its recent all-time high, according to the analysis. The context combines a falling price with rising inflows to the exchange, without implying that all incoming units were offered for sale. Darkfost linked the transfers to the possibility that a break below $1.30 prompted some holders to move their units to Binance.
The analysis suggested some holders may have moved XRP to Binance to sell, limit losses or protect remaining profits after the price fell below $1.30. But depositing assets on an exchange does not prove a sale was executed; it only makes the assets available for sale. CryptoQuant said, "Depositing funds on an exchange makes them available for sale, but does not confirm that a sale has taken place." The distinction therefore remains between measuring assets arriving at the exchange and observing actual market sales. The analysis did not characterize the entire inflow as supply for sale, but presented selling as one possible explanation for the transfers.
Darkfost also raised the possibility that some transfers were linked to Binance seeking to rebuild its XRP reserves after an exploit on October 29. The analysis said about 233.5 million XRP units were stolen in the incident, which may explain some of the transfers to the exchange alongside holders' decisions related to price movements. This explanation is a possibility, not confirmation of the reason for every deposit. In the broader context of the security incident, Binance estimated its total impact at about $6.3 billion and said it worked with blockchain partners to freeze affected assets, of which about $3 billion had been frozen on-chain by the time of the Associated Press report. Reuters also reported an estimate of $6 billion for the operation and linked recent pressure on the cryptocurrency market to the Binance theft and the election of prominent crypto critics in the U.S. midterm elections.
In late Sunday trading, Bitcoin fell more than 2% to $73,708, its lowest price since August, while Ether dropped about 5% to $2,223, also its lowest level since August, according to Reuters. The agency reported that cryptocurrency markets had come under pressure in recent sessions amid the Binance exploit and the U.S. elections. These moves place the XRP inflow within a session that saw broad declines in major cryptocurrencies, but Bitcoin and Ether figures alone do not determine the impact of the transfers on XRP. The CryptoQuant analysis said monitoring exchange flows and selling volumes would help assess whether the deposits turn into sustained selling pressure or remain a one-off spike. It added that tracking those indicators is necessary to judge the flow's trajectory after XRP reached a level more than 67% below its recent all-time high.