XRP Whales Transfer $900 Million to Binance: Highest Inflows Since 2024

The surge was not limited to a single day. The 90-day moving average of whale inflows climbed above $100 million per day, reaching its highest level in approximately six months. The fact that the sudden increase in daily transfers was also reflected in the longer-term average suggests that large investors have become increasingly inclined to move their holdings onto exchanges.

XRP's decline below $1.30 is considered one possible explanation for the increase in transfers. Some investors may have moved their assets to exchanges to limit their losses or protect profits accumulated during earlier periods.

However, an important distinction must be made. Sending XRP to Binance does not necessarily mean those assets have been sold. Although exchange inflows increase the amount of XRP potentially available for sale, actual selling pressure only emerges when those transfers translate into market sell orders.

Binance Security Breach May Have Influenced XRP Activity

Price movements may not be the only factor behind the surge in whale transfers. Darkfost also pointed to the possibility that Binance's efforts to rebuild its reserves following a security breach on October 29, 2026, contributed to the increased activity.

According to Binance's official announcement dated November 3, approximately 233.46 million XRP was transferred from five hot wallets to an address controlled by the attacker during the incident. The company announced that it would absorb the financial impact of the breach, which affected a total of $6.34 billion in cryptocurrencies. Binance also stated that 98% of the affected tokens had been replenished as of October 31.

Reserve restructuring or large-scale wallet movements following the attack could generate on-chain exchange inflows that need to be distinguished from ordinary selling activity. However, the proportion of the 691 million XRP transferred that resulted from reserve replenishment activities has not yet been confirmed.

At the time CryptoQuant published its analysis, XRP was trading more than 67% below its most recent all-time high. In an environment where prices have declined considerably, large transfers to exchanges may reflect investors' risk-avoidance behavior. However, they could also indicate changes in liquidity management and custody preferences.

Kriptofoni Assessment

For XRP, the key question is how the market will absorb transfers exceeding $900 million. Large investors moving their holdings to Binance increases the risk of short-term selling pressure. However, there is a significant difference in terms of price impact between immediately selling that amount of XRP and simply holding it in exchange wallets.

Reserve movements following Binance's security breach make it more difficult to interpret on-chain data in isolation. Whale inflows therefore need to be examined alongside trading volume, net exchange flows, and the balance between buying and selling activity.

Looking ahead, whether these large transfers translate into actual sales will be more important than XRP's immediate price movements alone. If exchange inflows remain elevated while buyer demand weakens, downward pressure on the price could intensify. Conversely, if the transferred assets are not sold, the risks suggested by the current data may prove more limited than initially expected.