XRP Hovers Above $1 as Onchain Metrics Flash Accumulation
XRP price is near yearly lows, risking a drop below $1, but onchain data reveals declining exchange balances, whale accumulation, and $243M in ETF inflows. While short-term technicals remain bearish, long-term consolidation may precede a breakout.
Quick Take
Binance XRP reserve dropped 100M in a month, hitting 2.68B.
Withdrawals exceeded deposits for 7 straight days, with withdrawal share at 53.8%.
Whale accumulation positive at 5.143M XRP/day, ETFs attracted $243M inflows since April.
Technical support lies in $1-$0.63 fairness gap; analyst targets $10 long-term.
Market Impact Analysis
NeutralOnchain accumulation and ETF inflows signal long-term demand, but near-term price remains weak.
Speculation Analysis
Key Takeaways
- Binance XRP reserves dropped 100 million tokens in a month, hitting a 2.68 billion low.
- Withdrawals outpaced deposits for seven straight days, with the withdrawal share reaching 53.8%.
- Whale accumulation averaged 5.143 million XRP per day, while spot ETFs drew $243 million in inflows since April.
- Technical support is fragile at $1, but long-term consolidation could set up a breakout toward $10.
What Happened
XRP is trading at its weakest level of the year, dipping to $1.01 on Thursday—a price not seen since November 2024. The token risks losing the $1 support for the first time in over a year. Yet onchain data tells a different story: supply on exchanges is shrinking, whales are accumulating, and ETFs are attracting capital. This divergence suggests long-term conviction despite near-term technical weakness.
The Numbers
Binance’s XRP reserve fell by 100 million tokens over the past month, dropping to 2.68 billion—the lowest since March. Other exchanges also saw declines: Upbit’s reserve slipped to 2.48 billion and Bybit’s to 82 million. Withdrawal transactions on Binance have exceeded deposits for seven consecutive days, with the withdrawal share climbing to 53.8%, the highest since June 2024. The whale flow 90-day moving average remains positive at 5.143 million XRP per day, indicating net accumulation by large holders. Spot XRP ETFs have pulled in $243 million in cumulative inflows since April, including $2 million on June 24, with June netflows at $31 million.
Why It Happened
The accumulation trend likely stems from long-term investors viewing XRP as undervalued near multi-year support. Despite bearish higher-timeframe technicals, the consistent exodus of coins from exchanges and whale buying point to a conviction that current levels offer value. ETF inflows add an institutional layer, suggesting that even as retail sentiment wavers, smart money is positioning for a rebound.
What to Watch Next
- Whether XRP can defend the $1 level—a break below would open the $0.63–$1 fairness gap.
- ETF inflow trends and any acceleration in institutional buying.
- Sustained whale accumulation and exchange outflows, which could signal a longer-term bottom.
This article is for informational purposes only and does not constitute financial advice.
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