The movement of so-called 'whales' — large-scale holders of Ripple (XRP) — is becoming active again.

According to on-chain data, approximately 1.45 billion XRP flowed into Binance, the world's largest cryptocurrency exchange, over the past 30 days. This is the largest inflow in four months, indicating that large-scale capital movements within the market have begun in earnest.

■ Despite Sell-Pressure Concerns, 'It Is Too Early to Conclude'

Typically, large-scale coin inflows to exchanges raise concerns about increased selling pressure. However, experts diagnose that a large exchange inflow does not necessarily mean an immediate mass sell-off. Since the possibility remains that it is for liquidity management and portfolio rebalancing purposes — such as setting up derivatives collateral, staking, or over-the-counter (OTC) settlement — analysts say it is too early to determine the market's direction.

■ Possible Link to Ripple-SEC Legal Schedule and Spot ETF Expectations Raised

In the market, some have raised the possibility that this large deposit could be a 'preemptive positioning' move tied to major legal dates between Ripple and the U.S. Securities and Exchange Commission (SEC), or expectations for spot ETF approval.

Historical data shows that price volatility often spiked in the short term after whales concentrated deposits on exchanges. As a result, short-term traders are growing more cautious.

■ Need to Comprehensively Observe Net Inflows and Open Interest

However, outflows to wallets outside exchanges are occurring simultaneously relative to total circulating supply, so the actual net inflow volume and trends in open interest in the derivatives market need to be observed comprehensively.

Ultimately, whether this movement is the signal for full-scale profit-taking or liquidity supply ahead of further gains is expected to be determined by additional on-chain movements and trading volume trends in the coming days.

[This article is intended solely for informational purposes and does not recommend the purchase or sale of virtual assets. Virtual assets involve high price volatility and market uncertainty, so caution is advised regarding increased volatility following large-scale on-chain movements, and the final judgment and responsibility for all investments rest with the investor.]

※ This article was produced with AI assistance.