XRP Whale Transfers from Binance Hit Seven-Month Peak
- Approximately 1.38 billion XRP were moved off Binance in a span of 30 days, marking the highest level in seven months.
- The large withdrawals could potentially reduce the available trading supply on Binance.
- Despite significant outflows, this does not necessarily indicate long-term accumulation by whales.
- U.S.-based XRP ETFs saw net inflows of $3.14 million on October 6, with notable contributions from asset management firm Bitwise.
- XRP’s price fell from approximately $1.52 to $1.46 on October 7 following these market activities.
