Large XRP holders moved roughly 442 million XRP off Binance and Coinbase in two late-March sessions, according to on-chain data from CryptoQuant, marking the strongest wave of whale-sized withdrawals since early February. The activity comes as XRP trades near support with multi-timeframe technical weakness still in place.
Whale Withdrawals Rebound on Binance and Coinbase
CryptoQuant data show significant exchange outflows on March 27 and March 30 totaling about 442 million XRP, valued at nearly $592 million at the time. The moves arrived in two concentrated bursts: approximately $298.8 million on March 27 and $293.5 million on March 30, with Coinbase contributing the larger share on both days.
The withdrawals reduced XRP balances on the two largest Western exchanges, removing near-term sell-side liquidity on those venues.
Context: Well Above March’s Average, Below February’s Peak
The late-March activity follows a February 6 spike, when large XRP outflows briefly reached about 530 million XRP in a single day. After that event, activity quieted through most of March, averaging near 50 million XRP per day. By that measure, the late-March withdrawals represented a sharp reacceleration—roughly nine times the recent daily pace across two consecutive sessions—suggesting a renewed pickup in large-holder movement after weeks of relative calm.
Market Structure Implications
While fund destination cannot be confirmed, net outflows from Binance and Coinbase indicate fewer XRP immediately available to sell on those platforms. Whether driven by custody preferences or positioning for a potential move, the reduction in exchange balances is material for short‑term liquidity and could influence how price responds to changes in demand.
Price Action: XRP Near Support With Trend Still Weak
On the three-day chart, XRP is consolidating around the $1.30 area following a sustained decline that has eroded prior bullish structure. Price remains below the 50-, 100-, and 200-period moving averages, all trending downward and acting as resistance, a configuration that keeps sellers in control across multiple timeframes.
The February breakdown was notable for its elevated volume, consistent with aggressive distribution or forced liquidations. Since then, XRP has ranged between roughly $1.15 and $1.50, with repeated failures to hold above $1.40 and lower highs forming within the band. Volume has tapered during consolidation, signaling reduced participation and limited buyer conviction. If current levels give way, the $1.15–$1.20 zone is the next key support area to watch.
XRP is the native asset of the XRP Ledger, a blockchain designed to facilitate fast, low-cost cross-border value transfers.