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Ahmed Barakat
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Binance and Upbit XRP reserves fell by a combined 104.7 million tokens, with data putting XRP whales at 77% of centralized-exchange outflows; separately, four newly created Hyperliquid wallets opened 40x Bitcoin shorts worth about $12.5 million before BTC price fell below $84,000. The signals point in different directions.
CryptoQuant’s seven-day average showed whales accounting for about 77% of XRP exchange outflows, compared with 22.8% for retail participants. Binance’s split was more concentrated: large holders represented about 81% of outflows, while retail accounted for 18.7%. These figures describe the composition of withdrawals, not the identity or eventual intentions of every wallet involved.
Reported Binance reserves declined from roughly 2.704 billion XRP on September 26 to 2.631 billion on October 4. Upbit reserves fell from around 6.446 billion XRP on September 11 to 6.415 billion on October 5, bringing the combined reduction to 104.7 million XRP.
CryptoQuant also put Binance’s 30-day total of XRP whale outflows at about 1.38 billion tokens, a seven-month high. But, at almost the same time, 1.6 billion XRP entered Binance over 30 days.
The Bitcoin derivatives signal is more explicitly bearish, though its implications are also limited. Lookonchain reported that four newly created wallets deposited $1 million in USDC into Hyperliquid and opened 40x short positions covering 148.49 BTC, with a notional value of about $12.5 million at the time.
The positions were opened before Bitcoin fell below $84,000, making the timing notable. More than $500 million in crypto long positions were liquidated during the decline. Forced closures can intensify a rapid move. The episode also highlights how leverage can amplify volatility.
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What’s The Next Level That Could Test XRP Price?
At the moment, Bitcoin is trading under $84,000, down about 2.5%, with short-term averages clustered around $83,500-$85,500. The classic pivot near $81,950 is the key downside reference: a sustained break would weaken the case for a contained pullback, while a recovery through $86,000-$87,000 would suggest buyers were regaining control.
XRP, on the other hand, is trading around $1.40 after retreating from the $1.50-$1.52 price area. It drops below its 50-day moving average near $1.42-$1.43 and its 200-day average near $1.28, while the daily RSI near 48 indicates neutral momentum rather than an extreme condition.
The current zone is the immediate XRP price support reference. A sustained move below it could bring $1.33 and then $1.28 into focus; on the upside, a recovery through $1.50-$1.52 would put resistance near $1.55 and $1.59 back on the map. These levels offer a price-based test of whether the exchange-flow narrative is translating into demand, rather than evidence of accumulation on its own.
XRP’s market structure and open-interest profile matter alongside spot flows: a reserve decline without sustained price support is a weaker signal than falling exchange supply paired with stable or rising prices.
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Persistence Versus Flow Reading
For XRP, continued exchange outflows alongside a steady or rising price would strengthen the case that a reduced immediately available supply is becoming relevant. If reserves recover or the price weakens despite continued withdrawal.
| Asset or signal | Reported level | Market reference |
|---|---|---|
| XRP reserves | Down approximately 104.7 million XRP | Binance and Upbit combined |
| Hyperliquid BTC shorts | 148.49 BTC; about $12.5 million | 40x leverage across four wallets |
| Bitcoin | $81,950 support | $86,000-$87,000 recovery resistance |
| XRP | $1.40-$1.41 support | $1.50-$1.52 resistance |
For Bitcoin, holding the $81,950 pivot would leave room for the decline to remain corrective; a sustained move below it would increase the risk of deeper weakness. A recovery into $86,000-$87,000 would provide clearer evidence of buyers returning, while continued short exposure would be a positioning signal, not proof of what traders know or intend.
The central contrast remains useful, but it is not a clean directional verdict: XRP whales dominated withdrawals as reported reserves declined, while leveraged traders took sizable Bitcoin shorts before a sharp move lower. The next evidence is whether those flows persist and whether prices confirm the respective supply and leverage signals.
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