XRP whale-to-exchange transactions have plunged more than 98% over the past three days as the cryptocurrency struggles to reclaim resistance at $1.20.
In this line, CryptoQuant data shows the XRP Ledger’s Whale to Exchange Transactions metric on Binance fell from 33,704 on June 12 to just 554 by June 15.
The sharp decline marks a notable shift in whale behavior, as large transfers to exchanges are often associated with potential selling activity.
The latest drop follows periods earlier in 2026 when elevated XRP inflows to Binance raised concerns about distribution from major holders.
Impact of whale transaction on XRP price
The reduction in exchange-bound whale activity may ease concerns about near-term selling pressure, although traders remain focused on whether XRP can establish a sustained move above $1.20. Key support levels sit around $1.14 and $1.10.
Despite mixed sentiment across the broader cryptocurrency market, XRP has remained relatively resilient, continuing to hold above the psychologically important $1 level.
Lower exchange inflows could reduce the amount of readily available supply that may be sold into the market, though broader market conditions, regulatory developments, and institutional demand through exchange-traded funds remain key drivers of price action.
Beyond whale activity, investors are also monitoring developments on the XRP Ledger. Version 3.2.0 of the XRPL core software is set to start rolling out on June 15, introducing improvements designed to reduce node memory usage by up to 40% and enhance network efficiency.
While the upgrade is not expected to act as an immediate price catalyst, it strengthens the network’s infrastructure as adoption and scalability remain key priorities for the ecosystem.
XRP price analysis
At press time, XRP was trading at $1.18, up more than 3.6% over the past 24 hours and 3% on the week.
However, XRP’s technical outlook remains weak. The token is trading below both its 50-day simple moving average (SMA) of $1.33 and 200-day SMA of $1.58, indicating that short- and long-term trends remain bearish.
Meanwhile, the 14-day Relative Strength Index (RSI) stands at 38.18, placing XRP in neutral territory but close to oversold conditions.
The reading suggests selling pressure has eased from recent lows, although buyers have yet to gain enough momentum to confirm a sustained reversal.
