XRP Price: Whales Just Pulled 720M Tokens Off Exchanges — Here’s What It Could Mean

TLDR

• Over 720 million XRP was withdrawn from crypto exchanges between June 3 and June 14, with Binance whales leading at 425 million XRP.
• Analyst Ali Martinez says XRP broke out of a symmetrical triangle pattern and targets $1.30 in the near term.
• XRP rebounded roughly 25% from its June low of $1.03, though it remains down about 32% year-to-date.
• XRP’s Sharpe ratio is currently negative at -0.36, a level that has historically preceded average returns of over 50%.
• Upbit’s share of XRP wallet flow dominance rose to 31% on June 14, its highest level since May 2024.

XRP has recovered sharply from a multi-month low, with on-chain data and technical analysis pointing to growing interest from large holders.

Analyst Ali Martinez stated on X that XRP had broken out of a symmetrical triangle pattern after a week of consolidation. At the time of his post, XRP was trading near $1.1784. The token has since climbed to $1.24, a gain of about 5.2%, with Martinez setting a near-term target of $1.30.

The rally follows a rough start to June. XRP briefly dropped to $1.03 during the first week of the month, coming close to falling below the $1 mark for the first time in eight months.

Since that low, XRP has rebounded about 25%, rising from $1.03 to $1.29. Despite the recovery, the token is still down roughly 32% year-to-date.

Martinez had previously flagged the $0.90 area as a long-term buying zone on June 8. He pointed to a monthly chart showing XRP within a long-term bullish structure, supported by an ascending trendline dating back to when the asset traded near $0.11.

His long-term price targets include $3.32, $8.50, and $13, contingent on long-term support holding.

Crypto analyst JD (@jaydee_757) posted on X that XRP could see a relief rally if it breaks out of a falling wedge pattern, but warned that a final flush into a lower price zone may come first before any major upside. He expects new all-time highs only after weaker hands exit the market.

Whale Activity Dominates Exchange Outflows

Between June 3 and June 14, over 722 million XRP left major exchanges in large daily outflows, according to CryptoQuant. Binance accounted for 425 million of those withdrawals. The outflows represent the most sustained whale-sized activity since early February.

The Binance Whale vs. Retail Spread, which tracks the gap between large and small withdrawals, currently sits near 90%, showing that large holders continue to lead outflows.

On June 14, Upbit’s XRP net wallet flow dominance climbed to 31%, up from 13% just one week earlier. That’s the highest reading for the South Korean exchange since May 2024, according to analyst Amr Taha.

XRP Sharpe Ratio Signals Accumulation Zone

XRP’s Sharpe ratio currently stands at -0.36, down from a positive 0.18 in May. This metric measures returns relative to volatility.

According to CryptoQuant, XRP has historically delivered average gains exceeding 50% when the Sharpe ratio was in negative territory.

On June 12, Martinez flagged a buy signal from the TD Sequential indicator on XRP’s three-day chart. However, he noted that whale transactions over $1 million fell 57% in nine days, dropping from 157 to 67, and that whales sold roughly 60 million XRP during that period, per Santiment data.

XRP was trading at approximately $1.24 at the time of reporting.

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