CryptoQuant analysts have recorded a decrease in the activity of large XRP holders on Binance and a reduction in the use of leverage in the derivatives market. Both indicators point to changes in market participants' behavior but do not provide a clear signal regarding the future price movement of the token.
XRP leverage decreased by 26.2%
The Estimated Leverage Ratio of XRP on Binance fell from 0.229 in September to approximately 0.169 over the past few days. A decrease of 26.2% in less than a month indicates a reduction in the relative volume of leveraged positions.
According to CryptoQuant, this may mean that traders are reducing risks in the derivatives market by closing open positions or reducing the use of borrowed funds. This dynamic potentially reduces the risks of liquidations associated with leveraged positions. At the same time, the decline in the indicator does not necessarily indicate increased sales or a change in market trend and does not guarantee reduced volatility: its level depends on overall market conditions and the structure of positions that remain open.
Whale fund outflow reached a minimum since 2021
According to CryptoQuant, the 90-day moving average of fund outflows from large XRP holders on Binance decreased to $49.7 million. This is the lowest level in five years – the last time similar values were observed was in October 2021.
In February 2025, when XRP was near a local peak of about $3.3, this indicator reached $3.5 billion. At that time, Binance recorded significant spikes in whale fund outflows, which on some days exceeded $10 billion.
Since then, the activity of large holders has significantly decreased. CryptoQuant suggests that whales may be waiting for more attractive price levels to return to the market. At the same time, XRP's resilience during the bear market may have limited opportunities for accumulation at prices that were available in 2022–2023.
In the long term, weaker activity from large buyers may mean less price support for XRP from whales. However, this does not necessarily indicate further decline: according to CryptoQuant, trend reversals sometimes occur precisely when trading volumes and interest in the asset are at low levels.
Recall, earlier Santiment recorded FOMO around Ethereum amid fears regarding Bitcoin and XRP.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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