Binance XRP Outflows Explode to 226 Million as Whale Activity Reaches Levels Last Seen in 2022

Large XRP outflows from Binance climbed to 80 million after withdrawals resumed. XRP whale net flow on Binance hit -226 million units on October 29. This reading is 2.72 times the -83 million units recorded in September 2022. CryptoQuant analysis flagged 283 million XRP in large-transfer outflows from the exchange that day, as the security breach unfolded. Whale Movement TRM Labs traced 233.46 million XRP from five Binance wallets to an attacker-controlled address, while Elliptic independently reported approximately 233 million XRP in related transfers. Large withdrawals above 1 million dropped to 14.7 million on October 30, down 94.8% during the withdrawal suspension. When Binance began restoring withdrawals, including XRP, in phases on November 1, large-transfer outflows climbed to 80 million, which is 5.44 times the October 30 reading. Whale netflow remained negative at approximately −50 million XRP. According to CryptoQuant, moving the crypto asset off the exchange may reduce the supply available for immediate sale and ease near-term selling pressure. Binance’s security breach resulted in an estimated $6.3 billion in stolen digital assets, making it the largest crypto heist in ...