XRP Whale Inflows Hit 2021 Low as Bank of America Adds ETF Stake

TLDR:

• XRP whale inflows to Binance fell to $61M, the lowest since 2021 and nearly 87% below January 2025 levels.
• Bank of America held 13,260 XRPI shares in Q2, up 260 shares, or roughly 2%, from the first quarter.
• Binance XRP netflows stayed positive at $18.8M, showing inflows still exceeded outflows despite the slowdown.
• XRP Ledger active addresses rose 84% to 43,543 by August 11, while XRP traded near the key $1.06 level.

XRP is showing two contrasting signals as exchange-bound whale activity falls sharply while Bank of America slightly increases exposure through a regulated futures product. The combination highlights weaker large-holder deposits on Binance alongside a measured increase in institutional securities exposure tied to the token.

CryptoQuant contributor Darkfost said Binance’s 90-day average whale inflows fell to about $61 million, the lowest level since 2021. Meanwhile, an August 14 filing showed Bank of America held 13,260 shares of the Volatility Shares XRP ETF at June 30.

Whale Deposits Fall Sharply While XRP Holds Near $1

The current $61 million average marks a steep decline from roughly $456 million in January 2025 and $355 million in October. That places recent inflows about six to seven-and-a-half times below those earlier levels.

The decline also extended a trend visible in July, when the 90-day average stood near $69 million. Moving from $69 million to $61 million represents an additional decrease of roughly 12%.

Earlier data also showed large daily deposits collapsing from 583 million XRP to 25.3 million XRP. Separately, the 30-day sum of whale inflows fell 34.4%, from 1.445 billion tokens to 947.4 million.

Exchange inflows are often monitored because large deposits can increase potential sell-side supply. However, deposits do not confirm completed sales, so lower inflows do not establish whale accumulation.

That distinction remains important as Binance netflows were still positive at about $18.8 million, according to Darkfost. Therefore, whale-related deposits continued exceeding withdrawals despite the broader decline in inflow activity.

At the same time, network usage increased. Active XRP Ledger addresses rose from 23,642 on August 1 to 43,543 by August 11, an increase exceeding 84%.

Even so, higher address activity did not provide direct evidence of fresh capital entering the market. At press time, XRP traded near $1.06, keeping the $1 level central to current price structure.

Bank of America Raises XRPI Position by 2% in Q2

Against that market backdrop, Bank of America reported a modest increase in its XRP-linked ETF holding for the second quarter. The filing showed 13,260 shares, compared with 13,000 shares reported during the first quarter.

That increase equals 260 shares, or about 2%. The disclosure therefore reflects an expanded existing position rather than a new entry into the product.

The fund, ticker XRPI, is the Volatility Shares XRP ETF and began trading on Nasdaq in May 2025. It seeks returns generally corresponding to the token’s performance.

However, XRPI is futures-based and does not hold the cryptocurrency directly. Bank of America’s position therefore represents indirect exposure through a regulated security.

Together, the two developments present a factual contrast. Whale inflows to Binance are at their weakest level since 2021, while Bank of America modestly increased its ETF position.

Neither signal establishes a broader trend by itself. However, the data shows exchange-side selling pressure easing while regulated institutional exposure increased slightly during the second quarter.

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