XRP Whales Withdraw $335M From Binance as Short Sellers Build Positions Above $1.40
Whales pulled 231 million XRP worth $335 million off Binance in a massive single-day liquidity drain. Derivatives traders are heavily leaning short with net taker volume hitting negative $96 million while open interest surges. A classic spot supply squeeze is locking horns with leveraged short sellers.
A massive liquidity drain is hitting Binance as deep-pocketed whales yanked 231 million XRP worth over $335 million off the exchange in a single day. This marks the largest exchange outflow for the token in six months, shrinking immediate sell-side liquidity while price holds firmly above $1.40.
While spot holders move supply into cold storage, leveraged derivatives traders on Binance are taking the opposite bet. Net taker volume registered its strongest sell imbalance of the year at negative $96 million, accompanied by a 14.8% jump in open interest.
This divergence sets up a classic standoff. If spot accumulation continues to strip order books clean, aggressive short positions face severe squeeze risk on any sudden upward push.