XRP is struggling to hold the current support level. The market is uncertain. And in the final days of March, the largest XRP holders on two of the world’s largest exchanges made a decision that hasn’t yet reflected the price action.
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A report from CryptoQuant documents the strongest wave of whale-sized XRP withdrawals since early February. Over two sessions – March 27 and 30 – the large outflows from Binance and Coinbase combined to amount to approximately 442 million XRP, worth almost $592 million at current prices. That figure did not accumulate gradually. It came in two concentrated bursts: $298.8 million on March 27 and $293.5 million on March 30, with Coinbase contributing the largest portion on both days.
The historical context makes the size more meaningful. After the February 6 peak – when the major XRP outflows reached approximately 530 million XRP in a single day – activity had calmed down considerably, averaging almost 50 million The late-March increase represents a return to February-scale behavior after weeks of relative lull.
Nearly $600 million worth of XRP left the two major Western exchanges within 48 hours. The coins did not go to other exchanges. They left the sell side completely – and that changes the supply equation for what comes next.
Below the February peak. Miles above the March average. That gap is the signal
The report The comparative framework is where the data from the end of March is given proper weight. The February 6 peak – 530 million XRP in one day – remains the exceptional reference point of this cycle, a value that has not been matched since. The late March surge, with 442 million XRP spread over two sessions, falls short of that single-day record.
But comparing this to the February peak understates its significance. The more relevant comparison is what came immediately after February: a sustained pullback to around 50 million XRP per day for much of March. Against that baseline, the late March readings not only recovered; they multiplied by almost nine times the recent daily average over two consecutive sessions.
This reacceleration is what the report identifies as the structural signal. Whale-level retreat activity is not returning to near-February levels after weeks of coincidental lull. When outflows of this magnitude reappear after a subdued period, the pattern consistently points to a renewed and purposeful revival in the movement of large farmers – participants who had been inactive and at the same time chose to take action.
The consequence of the market structure is direct. Nearly $600 million worth of XRP disappeared from immediate sell-side availability within 48 hours. That offer is no longer on the stock exchange. It cannot be sold from where it is now. Whether the holders who have withdrawn it are doing so in anticipation of a move or simply out of preference for custody, the effect on Binance and Coinbase’s available XRP float is the same – and it is meaningful enough to matter for near-term price conditions.
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XRP is trading near support as weakness persists across multiple time frames
Over a three-day period, XRP is consolidating around the $1.30 level after a sustained decline that has eroded the previous bullish structure. The chart shows a clear transition from an expansion phase in mid-2025 to a prolonged distribution and collapse, with the price now stabilizing near a critical support zone.
XRP is trading below the 50 and 100 period moving averages, both of which are trending down and acting as resistance in any recovery attempt. The 200-period moving average, which is above the current price, reinforces the broader bearish alignment across time frames. This stacked structure indicates that sellers remain in control, both in the short and long term.
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The February collapse is a decisive event. With a sharp decline accompanied by increased volume, indicating aggressive distribution or forced liquidations. Since then, the price has settled into a narrower range, between about $1.15 and $1.50. This indicates a temporary equilibrium, but not a confirmed reversal.
Recent price action shows repeated failures to sustain moves above $1.40, with lower highs continuing to form within this range. Volume has fallen during the consolidation, indicating reduced participation and limited buyer conviction.
As long as XRP remains below the key moving averages, the structure favors continued or extended consolidation, with the $1.15 to $1.20 zone acting as the next crucial support if current levels fail.
Featured image of ChatGPT, chart from TradingView.com