"Sellers offloaded $35 million more XRP than buyers picked up on Binance over the past seven days. That much selling pressure should crush a token stuck in a tight range, but XRP held above $1.40 the entire time and is up 1.1% over the same window. So where's the buying coming from? Spot XRP ETFs added roughly $28 million over the same period, with three straight days of inflows from May 4 through May 6. That covers most of the $35 million in Binance selling, but it leaves around $7 million we can't explain through ETFs alone."
"CryptoQuant's data confirms it: whale inflows to Binance just hit a 4-year low, dropping from 2.6 billion XRP in early March to 736 million now. Binance's XRP reserves are around 2.7 billion, the lowest in 5 years. Plus, 91.4% of XRP outflows from Binance come from large wallets-the highest reading since 2024. Large holders aren't dumping, but rather pulling XRP off the exchange while ETFs steadily buy on the open market."
"So if buyers are absorbing this much selling, why isn't XRP breaking out? The wall above keeps capping every rally. About 60% of XRP holders bought at an average price of $1.44, and every time the price gets near that level, those underwater holders sell to break even-pushing XRP back into the range. It's a tug-of-war between buyers absorbing ever"
XRP trades around $1.39, up about 1.1% over the past week, while sellers on Binance offloaded $35 million more XRP than buyers acquired. The price stayed above $1.40 throughout the window, with repeated sell waves met by buy orders at the same level. Spot XRP ETFs added roughly $28 million, covering most of the Binance net selling, while the remaining amount is attributed to whale and institutional spot buying not reflected in ETF flow data. Whale inflows to Binance fell to a four-year low, and Binance XRP reserves are at a five-year low. Most Binance outflows come from large wallets, indicating holders are withdrawing rather than dumping. A resistance wall near $1.47 caps rallies, and many holders bought around $1.44, selling near that level to break even.
Read at 24/7 Wall St.
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