Major XRP Holders Extract $170M as Price Maintains Critical $1.40 'Value Zone'
XRP maintains position above the $1.35 level as major investors extract $170 million worth of tokens from trading platforms, suggesting accumulation behavior and possible breakout conditions.
The XRP (XRP) cryptocurrency remained positioned within a critical "value zone" during a period when major holders accumulated approximately $170 million worth of tokens, indicating a contraction in available liquidity supply.
Key takeaways:
- Major XRP investors extracted 122 million tokens from Binance, representing $170.8 million in value, coinciding with price action near the critical $1.35-$1.40 support level.
- Token withdrawals from trading platforms combined with consistent inflows into spot XRP ETF products indicate a supply squeeze and increasing investor appetite for XRP.
- The cryptocurrency could potentially reach $2.33 if bullish momentum pushes price action beyond the $1.50 resistance level, with Bollinger Bands suggesting significant movement is imminent.
122 million XRP withdrawn from Binance exchange
Large-scale XRP withdrawals, defined as exits exceeding 1 million tokens per individual transaction, reached 122 million tokens on the Binance platform on May 22, representing approximately $170.8 million based on prevailing market rates, as reported by CryptoQuant data analytics.
The withdrawal volume represented the first instance of daily outflows surpassing 100 million XRP tokens since the 278 million token movement observed during early February.
"What makes the latest move more important is the price context," CryptoQuant analyst Amr Taha said in a Monday QuickTake post.
It's worth noting that the withdrawal surge on Feb. 9 occurred when XRP was valued near $1.43, whereas the May 22 spike transpired with XRP trading around $1.35.
"This makes the $1.35–$1.40 range an important zone to watch for XRP," the analyst said in another QuickTake post, adding:
"Repeated withdrawals near the same price range may indicate that some larger players view this area as a value zone."
Outflows of this magnitude generally signal accumulation activity among substantial token holders, who transfer assets to self-custody wallets or expand their positions in XRP investment vehicles, consequently diminishing immediate selling pressure in the market.
At the same time, capital continues flowing into United States-based spot XRP exchange-traded fund products, with these investment vehicles registering uninterrupted positive flows spanning 16 consecutive trading sessions, accumulating $116.75 million in total.
XRP price must hold $1.30 as support
The XRP/USD trading pair has remained confined within a narrow band spanning $1.30 to $1.50 beginning from early February.
The bullish outlook for XRP now depends on maintaining the $1.30 level as viable support if the token "stands another chance at retesting $1.50 resistance," analyst ChartNerd said in a recent post on X.
"$1.30 is a current guardrail," the analyst said, adding:
"If lost, a deeper drop to the lower $1 territory is likely in the coming weeks."
XRP continues trading within a multi-year consolidation pattern spanning from May 2022 through November 2024. Ultimately, a breakout above the upper boundary of this consolidation range at $0.68 triggered a 400% surge reaching $3.40 during January 2025.
Should the XRP/USD pair remain confined within its present trading range, a comparable upward trajectory could materialize following a conclusive movement backed by substantial trading volume above the upper boundary at $1.50.
In addition, the Bollinger Bands indicator continues displaying its most compressed configuration since the middle of 2024. Comparable instances in the past have resulted in price appreciation ranging from 58%-82% for XRP, as illustrated in the accompanying chart.
Consequently, XRP could potentially climb to $2.33 if a comparable breakout pattern materializes.
Analyst Crypto Patel characterized the present trading range as the "best accumulation zone," noting that the subdued price movement mirrors the quiet period preceding its significant breakout during late 2024.
The analyst's projected upside objective stands at $10, representing approximately 7x growth potential from the lower boundary of the accumulation range should XRP replicate its 2022–2024 cycle-style expansion pattern.
According to Cointelegraph reporting, overhead resistance positioned at $1.40-$1.50 will probably constrain price advancement unless bullish forces gather sufficient momentum to breach these levels throughout the upcoming weeks.