XRP Whales Step Back as Exchange Inflows Reach a Seven-

Month High

XRP is showing mixed on-chain signals as billions of tokens move onto cryptocurrency exchanges while activity among large holders declines. According to data reported by CryptoQuant, XRP exchange inflows reached 6.05 billion tokens over the 30 days ending October 19, the highest level since March 2026.

At the same time, the 90-day moving average of large-holder XRP outflows reportedly fell to $49.7 million, its lowest level since October 2021. The combination has raised questions about whether large investors are becoming less active and whether XRP can sustain demand without stronger buying activity. However, exchange deposits alone do not confirm that investors are selling.

Key Highlights

• Exchange inflows rise: Approximately 6.05 billion XRP entered tracked exchanges over 30 days, marking a seven-month high.
• Whale activity slows: The 90-day average of large-holder outflows fell to $49.7 million, according to the reported CryptoQuant data.
• Price momentum weakens: XRP rose from around $1 to approximately $1.70 during the period before retreating toward $1.30.
• ETF demand shows signs of cooling: Separate market data reported weekly net outflows from US spot XRP ETFs for the week ending October 16.
• Market direction remains uncertain: Exchange flows may indicate selling pressure, increased trading activity, or transfers between wallets and exchanges.

XRP Exchange Inflows Climb to 6.05 Billion Tokens

The latest on-chain figures show a substantial increase in the amount of XRP moving to cryptocurrency exchanges. The 30-day inflow total reached 6.05 billion XRP by October 19, reportedly doubling from its mid-August level.

Binance accounted for approximately 2.46 billion XRP, or around 41% of the reported total, according to market coverage citing on-chain analytics.

Exchange inflows are closely watched because tokens deposited on trading platforms may become more readily available for sale. If investors begin selling significant amounts of XRP while buying demand remains weak, the additional supply could put downward pressure on the price.

Nevertheless, these figures need to be interpreted carefully. Investors also transfer tokens to exchanges to provide liquidity, reposition their holdings, or prepare for trading. An increase in exchange inflows is not, by itself, proof of widespread selling.

Large XRP Holders Show Reduced Withdrawal Activity

While exchange inflows have increased, reported whale outflows have declined. CryptoQuant data cited in market reports placed the 90-day moving average of large-holder outflows at $49.7 million, compared with a reported peak of $3.5 billion in February 2025.

This is a significant reduction in the measured value of large-holder withdrawals. Such movements are often monitored because withdrawals from exchanges can indicate that investors are transferring assets into private wallets rather than keeping them readily available for exchange trading.

Lower withdrawal activity, however, does not automatically mean whales are selling or abandoning XRP. Large investors may be waiting for clearer market conditions, holding their assets without moving them, or using different custody and trading arrangements.

The more immediate concern is that reduced activity from large participants could coincide with weaker demand, leaving XRP more sensitive to selling pressure from other market participants.

XRP Price Faces a Test After Its Recent Pullback

XRP traded around $1.30 in the market coverage published on October 20, after rising from approximately $1 to a high near $1.70 during the period examined.

The pullback suggests that the earlier advance has lost momentum. With more XRP moving onto exchanges and large-holder withdrawal activity subdued, traders are likely to watch whether buying demand can absorb any additional supply.

Still, on-chain data should not be treated as a standalone price forecast. Exchange flows, trading volume, broader cryptocurrency market conditions, regulatory developments, and investor sentiment can all influence XRP's direction.

A sustained recovery would require evidence of renewed demand, while continued weak buying activity alongside elevated exchange inflows could increase the risk of further volatility.

US Spot XRP ETF Flows Add to the Uncertainty

Institutional investment flows provide another indicator of market demand. Separate reporting citing ETF data showed that US spot XRP exchange-traded funds recorded approximately $1.84 million in net outflows during the week ending October 16, ending a reported 13-week streak of positive weekly flows.

The figure is relatively small compared with the broader XRP market, but the change in direction is worth monitoring. ETF inflows can provide an indication of investor interest through regulated investment products, while outflows may reflect profit-taking, portfolio adjustments, or weaker demand.

One week of net outflows does not establish a longer-term trend. Future fund flows will need to be assessed alongside XRP's price action and wider market conditions to determine whether institutional interest is weakening persistently.

What Could Happen Next?

XRP's near-term outlook will depend on how exchange supply, large-holder activity, and buying demand evolve.

A more constructive scenario: Exchange inflows moderate, demand improves, and XRP attracts renewed participation from large investors and ETF buyers. These developments could help stabilise the market.

A more cautious scenario: Exchange inflows remain elevated while demand and whale activity stay subdued. If some of the newly deposited XRP is sold, the resulting supply could add pressure to the price.

Neither scenario is guaranteed. The available on-chain figures describe movements in assets, not the intentions of every investor behind those movements.

Final Take

XRP's latest on-chain data presents a mixed picture: exchange inflows have reached a seven-month high, while large-holder outflow activity has fallen to its lowest reported level in five years. Combined with recent price weakness and a temporary reversal in US spot XRP ETF flows, the figures point to a market that warrants close attention.

However, the data does not confirm that XRP whales are selling their holdings or that a further price decline is inevitable. Exchange deposits can have multiple explanations, and a change in whale activity can reverse.

For a clearer assessment, investors and market observers should monitor subsequent exchange-flow readings, trading volume, ETF flows, and price behaviour rather than relying on a single indicator.

Disclaimer: This article is for informational and educational purposes only. It does not constitute investment advice or a recommendation to buy or sell XRP or any other cryptocurrency.