Arab Chain
XRP in September Whale Deposits Take Over Binance Inflows
Binance, the largest exchange by trading volume and liquidity, saw significant whale activity in XRP transfers. A clear dominance of whales (≥1M XRP) in deposits reached its highest level since last June. Most inflows were in the ≥1M band, while small and medium retail deposits were largely absent on most days. This suggests the movements were driven more by large holders/institutional entities than by retail participants. The price gradually recovered throughout the month. Despite bouts of large deposits, it maintained a steady upward trajectory into mid-September—indicating that these inflows did not immediately translate into clear selling pressure. ≥1M XRP the month’s driving band: The return of large inflows in the second half of September indicates significant large-scale holdings movements. 100K–1M XRP the band shows scattered intermediate bursts, often before or after limited price volatility, but it is not dominant this month. <100K XRP very limited activity, indicating the absence of retail FOMO waves. Deposits do not equal direct selling: Depositing to an exchange increases the capacity to sell, but it does not prove that selling occurred. The August experience remains a valid reference: In previous periods, clusters of whale deposits over 24–72 hours were often followed by higher volatility (sometimes a brief drop), but they did not always lead to a sustained downward reversal especially when accompanied by strong demand. The persistence of price strength alongside mid-month deposit peaks supports two possible interpretations liquidity creation (available to sell or swap) with strong demand absorption, or portfolio reorganization through internal transfers that does not directly pressure the spot order book.