XRP whale outflows from Binance have reached their lowest level in five years, signaling a significant pullback in large-holder accumulation activity.
According to on-chain analyst Darkfost, corroborated by CryptoQuant, XRP outflows from Binance to large-holder wallets fell to a 90-day moving average of roughly $49.7 million as of October 20, 2026. This represents the weakest reading since October 2021 and marks a substantial decline from recent history.
Sharp Decline From Recent Peaks
The current outflow level stands in stark contrast to earlier activity. In February 2025, the same 90-day measure peaked at approximately $3.5 billion, with multiple instances where outflows exceeded $10 billion during that period.
In late September 2026, whales accounted for approximately 82% of total centralized exchange outflows at one point, though this share later declined. In the weeks leading up to October 20, Binance and Upbit reserves together decreased by approximately 104.7 million XRP.
Price Resilience Cited as Primary Factor
Analyst Darkfost attributed the slowdown in whale accumulation to XRP's relative price resilience during the current bear market. When prices resist significant declines, large buyers have reduced incentive to accumulate aggressively, the analyst explained.
This contrasts with the bear market lows of 2022 and 2023, when deeper price drops created stronger incentives for large-scale accumulation. Existing large holders are likely waiting for better entry points before committing additional capital, according to the analysis.
Implications for Future Buying Support
Darkfost warned that XRP's long-term buying volume support could weaken further without renewed whale participation. The approximately 82% whale share of exchange outflows demonstrated that large holders retain the capacity to dominate flows when they choose to act.
