XRP whales controlled 77.8% of all centralized exchange outflows on July 22, according to CryptoQuant contributor Amr Taha, while retail investors accounted for just 22%, the lowest share in the available dataset. The price briefly touched $1.16 before settling around $1.14, with traders watching a resistance band between $1.24 and $1.28 as the next meaningful hurdle before $1.35 comes into view.

How the On-Chain Numbers Break Down

Whale outflow dominance climbed from 63% on May 6 to 77.8% by July 22. Retail participation fell in parallel, dropping from 36% to 22% over the same stretch and widening the gap between the two groups to 55.8 percentage points. The pattern holds on Binance specifically, where whale dominance reached 71% against 67% on May 3, while retail slipped from 32% to 28.7%, leaving a 42.3-point spread.

These figures measure each group's proportional share of withdrawals, not raw volume. Where the tokens went after leaving exchanges is not captured in the data. Transfers could reflect self-custody moves, institutional custody arrangements, internal reshuffling, or staging ahead of future transactions. This dynamic is not unlike what has been observed in other large-cap assets, including whale activity around LINK in recent sessions.

Deposit data tells a sharper story. Large Binance inflows collapsed from 583 million XRP, valued at roughly $1.36 billion, down to just 25.3 million XRP, around $23 million. Binance's 30-day whale inflow figure also dropped to 947.4 million XRP, a two-month low. The 90-day average follows the same trajectory: average whale inflows fell from approximately $460 million in January 2025 to $69 million by the reporting date.

What Analysts Are Saying

Market analyst Darkfost described the drop in large Binance deposits as an early sign of seller exhaustion. Fewer tokens arriving on exchanges means less immediate supply available for sale, though CryptoQuant's own framing is careful: existing balances and smaller transfers could still generate selling pressure without triggering a spike in inflow metrics.

Flow data alone does not confirm accumulation. The outflow dominance shift shows that large holders are pulling more XRP off exchanges relative to retail, but the direction of those tokens after withdrawal remains opaque. Stablecoin infrastructure developments, like the Circle and Kakao Group MOU for stablecoin payments in South Korea, continue to shape the broader context in which XRP settlement narratives are evaluated by institutional desks.

Price still needs to clear $1.24 to $1.28 before the $1.35 target becomes technically relevant, according to the on-chain analysis published alongside the flow data.

This article is for informational purposes only and does not constitute financial advice. Crypto markets are volatile, and past data does not guarantee future price performance.