XRP whale activity slows, hinting at potential sell-off

A slowdown in XRP whale withdrawals from Binance could signal growing selling pressure, according to an analysis by crypto analyst Arab Chain. In a post on CryptoQuant, Arab Chain noted that the 30-day net outflow from whales has dropped to approximately 1.2 billion XRP, its lowest level since February. Exchange withdrawals are typically seen as a move to hold assets long-term. The current trend, where some large whales are keeping their holdings on exchanges, could be interpreted as a sign of increased selling potential or a weakening commitment to long-term holding. Arab Chain pointed out that this shift is occurring while XRP's price is at a relatively low level, suggesting a stronger wait-and-see sentiment among investors over making new purchases. The analyst concluded that unless the withdrawal trend reverses, the market may become more sensitive to potential selling pressure.