XRP is battling to hold the $1 mark as a Ripple-linked wallet transferred 50 million tokens toward Binance, while rising network activity and heavily skewed long positions add to the market tension.
A wallet associated with Ripple transferred 50 million XRP, valued at more than $50 million when moved, to an internal subwallet on Aug. 13. The transaction came as XRP closed around $1, its weakest daily close since November 2024. At the same time, aggregate derivatives open interest climbed toward $986.48 million.
Blockchain records show the Ripple (50) wallet first sent the tokens to raRVLN1, an internal subwallet. The movement gained attention because it occurred as XRP tested a major support level and traders in the derivatives market remained strongly positioned for an upside move.
XRP Transfers Move Through Ripple-Linked Wallets
The raRVLN1 wallet later sent XRP onward, largely in 1 million-token batches, to rBNCyN, an address identified by XRPScan as linked to Binance. Ripple-associated wallets transferred 23 million XRP to the rBNCyN address during the week, with the funds subsequently moving to Binance.
The transactions may be connected to routine liquidity management, including on-demand liquidity or market-making operations. However, on-chain records do not reveal the precise purpose of each transfer.
Activity on the XRP Ledger has also picked up. The network averaged around 35,700 active addresses per day in August, compared with approximately 26,400 in July. New address creation remained relatively steady at about 2,260 per day, suggesting that the increase is largely coming from existing users rather than a surge in new participants.
XRP remains in a descending price formation, with $1.022 acting as the first major resistance. A break above that level could open the way toward $1.05-$1.07, while a sustained move under $1 could lead to additional downside.
Derivatives positioning remains strongly tilted toward longs. The long/short ratio was 3.095 and the funding rate stood at 0.0087, signaling bullish positioning. However, such a crowded long setup could increase liquidation risk if XRP loses support.
Key XRP Levels in Focus
The $1.00-$1.015 zone remains the key support area for XRP. Holding above it could allow the token to continue consolidating, while a decisive breakdown could accelerate selling pressure.
On the upside, reclaiming $1.022 would provide an initial recovery signal and potentially bring the $1.05-$1.07 zone into view.
With derivatives open interest nearing $986.48 million and long positions dominating, XRP’s reaction around the $1 level could play a major role in determining its next direction.
The combination of increased wallet transfers, stronger XRP Ledger activity and crowded bullish derivatives positioning leaves XRP at an important technical crossroads as funds continue moving through Ripple-linked addresses toward Binance.
