Analyst Predicts XRP Price Breakout as Whale Inflows to Binance Hit 4-Year Lows

XRP has been moving mostly sideways for almost three months now, but new on-chain data and technical analysis signal bullish sentiment among whales and institutions. A crypto analyst even sees a possible XRP price breakout ahead amid lower selling pressure on Binance.

Whale Selling Pressure at Multi-Year Low on Binance

CryptoQuant’s 30-day whale inflow indicator (Sum 30D) data shows XRP whale inflows to Binance have reached a four-year low. This indicates a clear shift in sentiment among major investors, with the broader crypto market witnessing notable gains.

Whale inflows to Binance reached 2.6 billion XRP at the beginning of March. Such large inflows are typically associated with an increased likelihood of selling or repositioning.

However, the data currently shows 736 million XRP moving to Binance. The low inflows signal that whales are less inclined to sell or prefer to hold the crypto asset off-exchange during the current bullish market.

Historically, similar drops in whale transfers to crypto exchanges have preceded supply shock, which often leads to XRP price increases. As CoinGape reported earlier, XRP whales turned positive after months of selling.

XRP price can rise significantly if whale inflows to Binance remain at these low levels. Typically, a decline in whale inflows to trading platforms is viewed as a relatively positive factor. TradFi institutions such as UBS invested in Grayscale XRP ETF.

Analyst Predicts XRP Price Breakout

Crypto analyst Dom highlighted Binance spot market activity, with $35 million in XRP sold over the last 7 days. Despite the selling, buyers kept placing new orders to absorb and help build upside momentum in XRP price. Notably, XRP ETF saw $13.03 million in inflows, bringing the total net asset value to $1.43 billion.

“Seeing this flip to buying is the key for a breath of air and will likely trigger a breakout,” the analyst said. He pointed to recent XRP price consolidation and suggested that a move above $1.47, along with strong momentum in Bitcoin, could lead to a major rally.

A 12-hour chart showed the next high volume ranges near $1.80 and $2.1. The token is holding key technical levels, while on-chain data shows a split between lower whale inflows to exchanges and steady buyer interest in spot markets.

XRP price fell 2% to $1.41 amid profit booking and a potential risk-off sentiment as Bitcoin fell 2% to trade near $80,837. The 24-hour low and high are $1.40 and $1.46, respectively.