$63M Whale Sales Hit Binance as XRP Drops Below $2.60

Aggressive selling near the $2.66 resistance level and large inflows to Binance suggest short-term distribution, while volume data shows institutional investors holding the bullish price at $2.55.

news background

XRP’s rebound from Friday’s liquidation low below $1.58 lost momentum overnight as fresh whale activity impacted exchanges. The single transfer of 23.9 million XRP (approximately $63 million) to Binance coincided with selling pressure that wiped out early gains. The move came as open interest rose 2.4% to $1.36 billion, suggesting that leveraged positioning remains strong even after a $32 billion market capitalization recovery following the crypto debacle due to President Trump’s tariffs.

Although the overall risk market stabilized as trade war rhetoric subsided, the derivatives desk warned that shorts were building up again around $2.65 to $2.66.

Overview of price fluctuations

• XRP traded in the $0.11 band (4%) from $2.54 to $2.66 from 05:00 on October 13th to 04:00 on October 14th.
• Trading volume exploded to 244.6 million contracts as of 1:00 p.m., nearly three times the average of 91.8 million contracts, confirming active push-buying around $2.55.
• The price peaked at $2.66 during 20:00 and then closed at $2.55 due to sustained decline.
• The bears extended their control until the final hour, breaking through the support at $2.57 with a volume of $4 million at 4:10, and then consolidating between $2.55 and $2.56 to close.

technical analysis

After repeated heavy defenses, the $2.55-$2.56 zone continues to hold short-term support. Resistance was solid between $2.65 and $2.66, with profit taking and whale flows causing multiple rejections.
The momentum bias is bearish while XRP trades below its 200-day moving average ($2.63), but a sustained recovery above $2.60 could reset the structure and lead to another test of $2.70. Volume remains key. A sharp rally on the downside indicates weak buying by financial institutions, while a falling high suggests supply still exceeds demand.

What traders are paying attention to

• $2.55 support — can it hold until the weekend’s Asian session?
• Reaction to the $2.65-$2.66 resistance zone during the next rally.
• Binance Whale flows as a signal for continued distribution or rotation.
• If open interest ($1.36 billion) remains high, we will take advantage of the possibility of unwinding.