XRP Price Prediction as 1.38B Coins Exit Binance Amid Surging Whale Outflows

Ripple (XRP) price is down 2.3% today, mirroring the downtrend across the broader crypto market caused by surging long liquidations.

The dropping price comes even as whale outflows from Binance increase, suggesting an unwillingness by these large addresses to sell.

Meanwhile, demand for XRP ETFs remains strong, even as other altcoin ETFs record outflows.

Ad

Ad

XRP Whale Outflows From Binance Surge

Data from CryptoQuant shows that the 30-day sum of XRP outflows from Binance has risen to 1.38 billion XRP. Analyst Arab Chain notes that this is the highest whale outflow seen in seven months.

The analyst notes that the outflows suggest a shift in whale holding behaviour, as more of these large addresses choose to hold their coins away from Binance, instead of keeping them readily available for selling.

A previous XRP price analysis by CoinGape had also noted that the share of whales withdrawing more than one million XRP from Binance and Coinbase increased to 60.8% and 48.7%, respectively, in late September.

Besides the rising whale outflows, SoSoValue data shows that demand for XRP ETFs also remains high, with Ripple ETFs being one of the only ETFs, besides Bitcoin (BTC) and Hyperliquid (HYPE), to record inflows on October 6.

Ad

Ad

Open Interest Remains High Despite Price Decline

Data from CoinGlass shows that XRP’s open interest rose to 2.37 billion coins on October 6, with this being a notable increase from the 2.32 billion coins in OI on October 4.

During the same period that OI has risen by 50 million coins, XRP price has dropped from $1.52 to $1.47.

A rise in open interest while the price is dropping usually suggests that traders are opening short positions as they bet that the value of XRP will decline.

The XRP long/short ratio has also dropped to 0.92, which also shows that there is a higher number of short accounts than long accounts.

XRP Prediction as Price Consolidates Within Falling Wedge Pattern

XRP price is consolidating within a falling wedge pattern on the four-hour chart. While the pattern usually suggests the trend may shift to bullish, the thesis only holds if there is a breakout above the upper trendline.

This breakout above $1.51 could trigger another bullish leg to the September high of $1.65, especially if buyers return amid Ripple’s ongoing expansion.

The ADX line that is tipping north shows that the downtrend is gaining strength, which could push XRP price to the support at $1.43. Closing below this support could push XRP to sub-$1.40 levels.

The RSI at 38 also shows that the momentum is leaning bearish, further supporting a bearish thesis of a breakdown from the falling wedge.

This bearish thesis could weaken if broader crypto sentiment shifts in favor of bulls and Bitcoin price breaks the resistance at $86,000, causing an uptrend across the altcoin market.