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It appears that major XRP holders are withdrawing their holdings from major exchanges, and recent data points to significant activity on Binance.
according to According to CryptoQuant analysis, about 44 million XRP were withdrawn from the exchange’s wallets on February 27, marking one of the largest withdrawal events. in recent weeks. The withdrawal followed an earlier one of nearly 30 million XRP on February 6, marking two major withdrawals in a month.
CryptoQuant NetFlow’s multiple shark metric tracks the daily movement of XRP held by large investors on 15 major exchanges. A positive NetFlow indicates that coins are flowing into exchanges, which could indicate potential selling pressure. Negative NetFlow reflects coins leaving exchanges, which are typically interpreted as bullish, as the supply available for trading decreases.
Binance’s recent negative NetFlow surge suggests that sharks may be redeploying their holdings on exchanges, a move that could tighten supply if demand remains stable.
Incidentally, sentiment around XRP is mixed. Data from CoinMarketCap shows that the token is up 4.22% in the last 24 hours and is trading near $1.44, with the market slightly lower. The decline was mainly due to institutional selling pressure by spot exchange-traded funds.
 
Meanwhile, US spot ETFs recorded about 11.85 million XRP, worth about $16.62 million, as part of a broader outflow of $456 million from US spot crypto ETFs that also included Bitcoin, Ethereum, Solana and Chainlink.
The ETF’s exit comes as former Ripple CEO David Schwartz recently admitted frustration with the asset’s price performance, responding that “the whole crypto market makes me sad…” when asked if XRP’s weakness was disappointing.
That said, one analyst warns that XRP may briefly fall below $1 before rebounding further. The market structure suggests that the token may retest the support near $1.35 if the selling pressure of the ETF continues, while a daily close above $1.45 cancels the bearish adjustment.
The overall altcoin market remains subdued. The Altcoin Season Index, tracked by CoinMarketCap, is at 41/100, indicating Bitcoin season conditions.
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