XRP Whales Withdraw $165 Million from Exchanges Amid Price Volatility

XRP whales withdrew approximately $165 million worth of XRP from major exchanges on September 11 (local time), the largest single-day withdrawal since February. According to blockchain media The Crypto Basic, XRP has faced selling pressure since late August, but on-chain data shows significant whale withdrawals.

CryptoQuant's analysis of whale transactions exceeding 1 million XRP revealed that over $165 million in XRP was withdrawn from exchanges including Binance, Bybit, OKX, and Upbit. The majority of the withdrawal occurred on Binance, where transactions exceeding 1 million XRP totaled 85.4 million XRP, worth approximately $115 million—about 70% of the total.

Smaller transaction ranges also saw notable outflows: between 100k and 1M XRP, Binance recorded 16.38 million XRP withdrawn; for transactions between 10k and 100k XRP, 9.6 million XRP was pulled out.

Bybit saw withdrawals of over 20 million XRP (about $27 million) in the 1M+ range, followed by OKX with 7 million XRP ($9.45 million), and Upbit with 6.1 million XRP ($9.15 million). Bithumb reported a withdrawal of 4 million XRP.

On the same day, XRP price fluctuated significantly, rising to $1.43 before settling at $1.35 by close—up 1.64% for the day, avoiding a third consecutive daily decline.

Market analysts suggest that large withdrawals typically reduce sell pressure by removing coins from exchange liquidity pools. If funds move to long-term cold wallets, this could further ease selling pressure. However, the immediate price reaction was not strongly bullish, and whether these withdrawals lead to sustained holding or short-term movement remains uncertain.