Bitcoin continues to trade sideways, offering little short-term direction. Momentum remains weak as altcoins struggle to gain traction without a clear trend from BTC. In this fragile setting, large XRP transfers have raised fresh concerns about supply.

Exchange Activity Spikes as Major Holders Move 31M Tokens

According to analyst Darkfost, more than 31 million XRP moved to Binance in a single day. The activity marked the week’s largest inflow spike. Binance remains a preferred venue for large holders due to its deep liquidity and tight spreads.

On-chain data shows whales drove almost all of the movement. Wallets holding over 100,000 XRP accounted for nearly the entire inflow. Smaller cohorts contributed only marginal amounts.

🐋 Large holder activity raises short term risk for XRP

BTC continues to range, offering limited directional clarity in the short term.
This lack of momentum is weighing on the broader market, with altcoins continuing to underperform in the absence of a clear trend.

This week… pic.twitter.com/eenLCa5mVL

— Darkfost (@Darkfost_Coc) February 23, 2026

The breakdown by cohort shows a clear concentration among large holders. Addresses holding 100,000 to 1 million XRP transferred 14,236,825 XRP, while wallets holding 1 million or more added another 14,494,865 of the coin.

In addition, mid-sized holders holding 10,000-100,000 XRP moved 2,938,809 XRP. Smaller retail wallets holding less than 10,000 XRP barely contributed.

In total, about $45 million in XRP was sent to the exchange. If those tokens are sold, they could push prices lower, especially in a market with weak liquidity. When large holders move funds to exchanges, it often suggests preparation to sell or reposition.

Market Eyes Binance XRP Balances for Signs of Broader Distribution

Current Binance reserve levels provide useful context for the recent inflow. About 2.5 billion XRP are now held on Binance. That is still far below the 2024 peak of over 3.2 billion XRP. So even though 31 million XRP moved in, overall exchange balances are not at extreme levels.

_Image Source: _CryptoQuant

Recent data shows reserves have stabilized, with no clear sign that large amounts of the asset are steadily moving back to exchanges. However, sustained reserve growth in coming sessions would signal deeper distribution. Persistent reserve expansion would increase supply downside risk.

Altcoins like XRP tend to be more sensitive when Bitcoin trades sideways. When BTC moves in a tight range, smaller assets can react more sharply to sudden supply changes.

At the time of writing, the coin trades near $1.395 and remains below key recovery levels. Additional selling could delay any meaningful rebound. Stable or declining exchange reserves would reduce short-term pressure.

For now, whale-driven flows on Binance remain central to XRP’s short-term outlook. Darkfost notes that concentration among large cohorts raises near-term caution. Direction will likely depend on whether those tokens enter circulation or remain parked on exchange balances.

For now, whale transfers to Binance remain the main short-term risk factor. Darkfost points out that heavy concentration among large holders calls for caution. The next price move will likely depend on whether those XRP are sold or simply held on exchange wallets.

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