XRP Price Holds ‘Best Accumulation Zone’as Whales Pull $170M From Binance

XRP (XRP) traded within a key “value zone” where whales recently accumulated $170 million, signaling a tightening liquidity supply.

Key takeaways:

XRP whales withdrew 122 million XRP, worth about $170.8 million, from Binance, signaling strong accumulation near the key $1.35-$1.40 support zone.Exchange outflows and steady spot XRP ETF inflows point to a tightening liquidity supply and growing investor demand for XRP.XRP price could target $2.33 if bulls break above $1.50 resistance, with Bollinger Bands signaling a major move ahead.

122 million XRP leave Binance exchange

XRP whale withdrawals, large exits above 1 million coins per transaction, hit 122 million on Binance on May 22, worth about $170.8 million at current rates, according to data from CryptoQuant.

This marked their first daily withdrawal above 100 million XRP since the 278 million XRP seen in early February.

“What makes the latest move more important is the price context,” CryptoQuant analyst Amr Taha said in a Monday Quicktake post.

Note that the Feb. 9 withdrawal spike happened while XRP was trading near $1.43, while the May 22 spike came with XRP around $1.35.

“This makes the $1.35–$1.40 range an important zone to watch for XRP,” the analyst said in another Quicktake post, adding:

“Repeated withdrawals near the same price range may indicate that some larger players view this area as a value zone.”

XRP: Whale outflows from exchanges. Source: CryptoQuant

This coincided with sharp exchange outflows, as the XRP net position change among exchanges dropped to -$30 million on Sunday, its most negative value since April 9, when the price was trading at $1.28. This preceded a 17% move to $1.51 on April 17.

XRP: Exchange net position change

Such outflows typically indicate strong accumulation by large holders, who move tokens to cold storage or increase exposure to XRP investment products, thereby reducing immediate sell-side pressure.

Meanwhile, demand for US-based spot XRP ETFs continues with these investment products recording positive flows for 16 consecutive days, totalling $116.75 million. This points to consistency in demand from US investors, adding to XRP’s tailwinds.

Spot ETH ETFs flows chart. Source: SoSoValue

XRP price must hold $1.30 as support

The XRP/USD pair has been trading in a tight range between $1.30 and $1.50 since early February.

XRP’s bullishness now hinges on holding $1.30 as support if it “stands another chance at retesting $1.50 resistance,’ analyst ChartNerd said in a recent post on X.

“$1.30 is a current guardrail,” the analyst said, adding:

“If lost, a deeper drop to the lower $1 territory is likely in the coming weeks.”

XRP/USD daily chart. Source: X/ChartNerd

The chart below shows that the altcoin traded in a multi-year range between May 2022 and November 2024. Eventually, a break above the upper limit of the range at $0.68 ushered in a more than 400% rally to $3.40 in January 2025.

If the XRP/USD pair holds within its current range, a similar upward move could be seen once a decisive move supported by strong volume above the upper limit at $1.50 is achieved.

XRP/USD three-day chart. Source: Cointelegraph/TradingView

The Bollinger Bands are still at their tightest level since mid-2024. Similar occurrences have previously led to between 58%-82% upward moves in XRP price, as shown in the chart above.

As such, XRP could rise as high as $2.33, if a similar breakout plays out.

Analyst Crypto Patel referred to the current range as the “best accumulation zone,” adding that the muted price action resembles the calm before its major breakout in late 2024.

The analyst projected an upside target at $10, implying a roughly 7x potential from the lower end of the accumulation range if XRP repeats its 2022–2024 cycle-style expansion.