Whale Wallets Drain Exchanges as Evernorth Merger Clears Final Hurdle
Published on 10/02/2026 at 10:50 | Editorial boerse-global.de
XRP changed hands at $1.53 on Friday, up 2.4% on the day, as a broad crypto rally and easing macro anxiety gave the token room to build on a steady run of institutional developments.
The advance came alongside gains across digital assets, though traders kept position sizes modest ahead of the US jobs report. Softer-than-expected US inflation data has taken some of the sting out of fears that the Federal Reserve will tighten further, according to Reuters.
Large Holders Pull 301 Million Tokens Off Exchanges
Behind the price move, on-chain data points to a quieter shift in ownership. Analysis firm CryptoQuant recorded withdrawals totaling 301 million XRP in single transactions of more than one million units each, as major holders moved coins away from centralized venues.
Binance accounted for the bulk of the outflow at roughly 151 million XRP, followed by Bybit with 68 million, Bitget with 50 million and Coinbase with 32 million. Binance's XRP reserves fell by about 57 million units to 2.647 billion as a result. Transfers to external wallets typically shrink the supply immediately available for sale on order books — a signal that wealthy participants are stepping back from short-term trading.
Should investors sell immediately? Or is it worth buying XRP?
Regulated Vehicles Keep Absorbing Supply
Demand through traditional channels remains a counterweight. US spot XRP ETFs drew $4.07 million in net inflows yesterday, bringing the week's total to $31 million, according to media reports. Steady purchases through regulated wrappers have become an important source of liquidity support, even as the wider market continues to take its cues from monetary policy.
Institutional infrastructure is deepening in parallel. At CME, XRP futures and options contracts reached a notional volume of about $13 billion in the first quarter of 2026, with cumulative volume later climbing past $62 billion. On the XRP Ledger itself, tokenized real-world assets now total roughly $1.38 billion, while payment network t54 Labs reported yesterday that it has processed more than ten million x402 transactions.
Armada Shareholders Back Evernorth Tie-Up
October brings two dates that could reshape the token's market structure. Armada Acquisition Corp. II confirmed that its shareholders approved the merger with Evernorth yesterday. The deal is expected to close on October 7, with trading on the Nasdaq under the ticker "XRPN" slated to begin October 8. Evernorth intends to hold roughly 473 million XRP at completion.
Separately, developers and custodians are preparing the Batch V1.1 upgrade to the XRP Ledger. The change will allow up to eight transactions to be bundled so they either settle together or fail entirely. After fluctuations in validator support, the earliest possible activation has shifted to October 9, according to media reports.
Technical Picture and Brazilian Rails
The token now trades about 11% above its 50-day moving average, which sits at $1.38 — a gap that reflects the recent improvement in sentiment. Market participants will be watching whether validator backing holds steady and whether the upcoming listing generates fresh momentum.
Institutional adoption continues to broaden beyond trading. Brazil's central securities depository CSD BR has integrated the XRP Ledger as an additional verification and record-keeping layer, while Ripple carried out its scheduled escrow release. For now, though, the clearest message from the exchange outflows is that large holders have chosen to sit on their coins rather than sell into the rally.
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