XRP whales bought 70 million tokens in the past week, according to Santiment data cited by crypto analyst Ali Martinez on July 16, even as Binance’s XRP reserves fell to their lowest level since February.
The buying coincided with XRP’s rebound from a recent low near $1.05. Rising demand from large wallets alongside shrinking exchange supply contrasts with the selling pressure that dragged the token down through June.
What Happened
Wallets holding between 1 million and 10 million XRP grew their combined balance to nearly 3.83 billion tokens, per the data Martinez cited, extending an accumulation trend that continued despite volatility tied to the US-Iran conflict. The pace marked one of the largest one-week gains for that wallet tier this year.
Exchange supply moved in the opposite direction. Binance’s XRP reserve slid to 2.61 billion tokens, according to CryptoQuant Insights, the exchange’s lowest balance since February, though CryptoQuant’s data does not show where the withdrawn tokens went. XRP itself traded near $1.11 on July 17, up 3.27% on the day, according to CoinDesk, while CoinMarketCap showed a slightly lower reading near $1.08, with volume above $1.6 billion.
Binance separately confirmed an $800,000 XRP reward campaign for holders of its RLUSD stablecoin, running July 17 through Aug. 14. Eligible holders on Binance Earn, Margin, or Futures accounts will receive weekly XRP distributions every Friday, provided they maintain at least 0.01 RLUSD and $500 in average daily trading volume.
Why Falling Reserves Matter Right Now
Falling exchange reserves paired with rising whale demand is often read as a supportive setup, since fewer tokens on exchanges can mean less available supply if buying pressure holds. Our news hub has more on how these on-chain shifts are playing out across the wider market, and a closer look at how concentrated XRP’s holder base has become. The reserve drop alone does not confirm sustained accumulation, and whale wallets have reversed course quickly before.
Binance’s RLUSD Airdrop Adds a New Catalyst Through Aug. 14
The RLUSD campaign layers a new source of XRP demand on top of the current supply squeeze, and its scheduled Friday payouts give traders a recurring date to watch through mid-August. Whether that demand holds after the campaign ends will say more about the rebound’s durability than the airdrop itself.
What This Means for You
If you are new to XRP, treat whale buying and falling exchange reserves as supply-and-demand signals rather than guarantees, since the price can still swing sharply in either direction. These on-chain shifts describe how large holders and exchange supply are behaving right now, not where the price is headed next. Watch whether the accumulation trend holds beyond this week before reading too much into it.
This article is for informational purposes only and does not constitute financial advice. Do your own research before making any investment decisions.
