Quick overview

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Significant amounts of Ripple’s XRP token were moved to the Binance exchange by large investors this month, resulting in a notable decline in XRP’s value

 

Whale activity that had been quiet in September suddenly became aggressive during the first two weeks of October, according to data analysis. This shift created considerable selling pressure, causing the price to drop by around 20% from its early October levels.

Specifically, XRP’s price fell from approximately $3.10 to $2.50 within just a few days, with the most notable movement occurring between October 10 and 12, as reported by CryptoQuant analyst Arab Chain.

The observed pattern suggests that whales may have been hedging their positions or locking in profits after a recent volatile recovery. Typically, large inflows to centralized exchanges indicate plans to sell or realize profits, especially during a price decline. In September, when exchange transfers were low, the inflows suggested a reversal of that trend.

According to the market technician, each wave of large inflows coincided with sharp price corrections, demonstrating that whale activity had a direct impact on the market. Following October 11, when the inflows slowed, XRP stabilized between $2.00 and $2.60, signaling the end of the intense liquidation phase.

This shift occurred as the asset reached a short-term balance following a significant liquidity exit from the market.