On-chain data indicates that XRP whales have recently withdrawn large amounts from the Binance exchange, a potentially positive sign for the asset's price.

Over the past 24 hours, the cryptocurrency transaction tracker Whale Alert has detected several significant transactions on the XRP network, typically involving whale entities. These whales, being large investors capable of moving substantial amounts, can significantly influence the market price of XRP.

The recent movements of these whales can provide insights into their sentiment. One notable transfer involved 26,440,906 XRP, worth nearly $13.2 million, from a Binance wallet to an unknown wallet. Transfers to unknown wallets, which are not associated with any known centralized platforms, suggest that investors may be moving their holdings off exchanges to keep them long-term. Such exchange outflows are generally considered bullish.

Another significant transaction also involved Binance, where 30,406,274 XRP (approximately $15 million) was withdrawn to an unknown wallet, reinforcing the potential bullish sentiment.

However, not all recent whale activities have been positive. One transaction saw 30,320,000 XRP ($15 million) deposited into the Bitstamp exchange. Exchange inflows typically indicate that holders may be preparing to sell, which can be bearish for the price. Despite this, the net movement over the past day still shows more XRP being withdrawn from exchanges than deposited.

Currently, XRP has seen a decline of about 4% over the past week, bringing its price down to $0.50.