Why Did XRP Price Drop 9% Even After 100 Million XRP Were Pulled From Exchanges?

XRP whales pulled over 100 million coins off major exchanges in a move that usually signals accumulation and rising prices, yet XRP still lost nearly 10% in a week. The real culprit behind the sell-off is not who most holders…

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Recently, XRP (CRYPTO:XRP) whales pulled about 105 million XRP, worth around $147 million, off the Binance and Upbit exchanges between mid-September and early October 2026, according to CryptoQuant. Typically, large withdrawals suggest that major holders are accumulating more coins, making them less available for quick sales.

However, XRP’s price still fell unexpectedly. As of October 9, XRP was trading near $1.40, down 9% over the past week and about 62% below its all-time high of $3.65. This price level is reminiscent of where it stood two weeks after the 2024 U.S. election.

So, if whales were taking coins off exchanges, who was selling?

XRP Whales Withdrew 105 Million XRP From Binance and Upbit

According to CryptoQuant data, Binance’s XRP balance fell from about 2.70 billion on September 26 to 2.63 billion on October 4, a drop of about 73 million XRP. On Upbit, another 32 million XRP were withdrawn from September 11 to October 5. Notably, whale-sized transfers made up 84.2% of Binance’s XRP outflows on September 29, while retail-sized transfers accounted for about 15%.