According to CryptoQuant's on-chain data, on June 11, over $151 million worth of XRP flowed out of Binance, marking one of the largest single-day outflows in recent years.
The withdrawal amount the previous day was only $23 million, while this time the withdrawal amount suddenly surged, indicating that XRP holders are intent on changing their strategy.
A large-scale withdrawal from exchanges typically indicates increased investor confidence.
Are whales accumulating XRP?
When tokens are delisted from trading platforms, they are often moved to private storage, indicating that holders are not in a hurry to sell. In this case, the scale and speed of the exit are striking—growing more than sixfold within 24 hours.
The motivation behind this move remains unclear, but such behavior often occurs ahead of anticipated price movements.
