XRP whales snap up 70M tokens as exchange reserves hit new low

$XRP whales have bought 70 million tokens in one week as the price rebounded above $1.11 and Binance reserves fell to a five-month low.

Santiment data shared by crypto analyst Ali Martinez on July 16 showed that wallets holding between 1 million and 10 million $XRP increased their combined balance to nearly 3.83 billion tokens. The accumulation continued despite volatility linked to the US-Iran conflict.

Whale buying coincided with improving sentiment across the $XRP market. In a separate X post, Santiment previously showed 3.02 bullish social media comments for every bearish remark, giving $XRP the highest level of fear of missing out among the assets tracked.

Cooling US inflation has also supported sentiment toward cryptocurrencies. Recent US consumer and producer price data weakened expectations for tighter monetary policy, helping $XRP recover from a recent low near $1.05.

Exchange balances have moved in the opposite direction. CryptoQuant data showed that Binance held 2.61 billion $XRP, its lowest reserve level since February. Falling exchange reserves can suggest that holders are moving tokens away from platforms, although CryptoQuant’s figure does not reveal whether those funds entered private wallets, custody services, or other venues.

Binance has also announced an $800,000 $XRP airdrop for users holding Ripple USD. Running from July 17 through Aug. 14, the campaign will distribute $XRP each Friday to eligible users across Binance Earn, Margin, and Futures as the exchange promotes RLUSD adoption.

$XRP tests resistance inside a tightening triangle

As per data from crypto.news, $XRP ($XRP) traded near $1.11 at the time of writing after gaining more than 5% from its recent low, while its 24-hour range extended as high as roughly $1.13. Trading volume, however, fell more than 15%, according to the original market report, showing weaker spot activity during the rebound.

On the 4-hour Binance chart, $XRP is pressing against the upper boundary of a symmetrical triangle after forming lower highs and higher lows since mid-June. The descending trendline sits close to $1.12, while the rising support line approaches the $1.06–$1.08 area.

Capital flow remains positive despite the unresolved breakout. The 4-hour Chaikin Money Flow reading stands at 0.26, indicating net buying pressure, but the Aroon indicator presents a mixed signal: Aroon Up is at 0% while Aroon Down is at 57.14%.

Daily indicators also show improving momentum without confirming a full reversal. The MACD histogram has turned positive at 0.0053, while the MACD line remains below zero and the relative strength index sits at a neutral 49.

The daily Fibonacci retracement places immediate resistance at $1.124, followed by $1.215. A confirmed move through the first level would support a test of $1.15 before traders turn their attention to $1.20, while rejection could keep $XRP within its current consolidation pattern.

Derivatives liquidity surrounds the current price

CoinGlass data placed $XRP futures open interest near $2.50 billion after a 2.65% increase over 24 hours. CME recorded a 0.74% rise, while Binance posted a 0.28% increase during the same period, indicating that traders added exposure as $XRP recovered.

The 24-hour CoinGlass liquidation heatmap shows the strongest nearby liquidity concentrations between $1.117 and $1.13, just above the current price. Additional leveraged positions appear around $1.14, making that zone important if $XRP breaks its descending trendline.

Below the market, the heatmap identifies another dense liquidity pocket around $1.09–$1.10. A failure to hold that region could expose the triangle’s rising support near $1.06, while a sustained break above $1.13 would clear the closest concentration of short-side liquidation levels.