Where Are the XRP Bulls? Price Drops to $1.21 Despite a $540 Million Binance Outflow

About $540 million worth of XRP (XRP) left Binance in a single day this week. Yet, the price has dropped 7.66% over the past 24 hours to $1.21, according to BeInCrypto Markets.

Coins are leaving the exchange, but buyers have not stepped in to push the price higher. US spot XRP exchange-traded funds (ETFs) have also logged zero net flows for 3 straight sessions.

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The Biggest XRP Exit From Binance in 9 Months

On November 4, 418.5 million XRP left Binance, according to analyst Darkfost. That made it the exchange’s largest outflow day in 9 months.

The figure topped the 315 million XRP withdrawn on October 29, the day of the $6.3 billion Binance hack.

The withdrawals came right after XRP climbed back above $1.30. They also landed the day after the US midterm elections. Furthermore, wallets holding at least 1 million XRP reached a 2026 high this week, BeInCrypto reported.

Darkfost said outflows this large shrink the pool of XRP ready to be sold on exchanges. Still, he cautioned they do not guarantee a rally, and some of the flow may reflect internal Binance transfers.

Fund flows offer a second check on whether that shrinking supply is meeting fresh demand.

ETF Buyers Stay on the Sidelines

SoSoValue data shows US spot XRP ETFs recorded zero net flows on November 3, 4, and 5. That quiet stretch included the day of the Binance outflow.

The slowdown began earlier. October brought only $18.8 million in net inflows, down from $121.4 million in September. That was the lowest monthly total since March, when the funds saw net outflows.

Taken together, coins are leaving exchanges without a matching rise in institutional demand. That puts the focus on whether XRP can hold its current support.

$1.21 Becomes the Level XRP Bulls Must Defend

More Crypto Online flagged $1.21 as the 61.8% Fibonacci retracement, a level XRP bounced from earlier. The token climbed toward resistance near $1.34 but did not break above it.

The XRP price has since dropped back to $1.21. That puts the same support under test again.

The analyst said XRP must form a higher low, then clear $1.34, to confirm a bottom. His latest update noted the bounce has lacked momentum.

$XRP is still holding support, but no impulsive upside reaction yet.Where are all the bulls? pic.twitter.com/gLmKvE6dto

— More Crypto Online (@Morecryptoonl) November 5, 2026

Below $1.21, his chart marks the 78.6% retracement near $1.11. 

Darkfost said the coming days should show whether the Binance outflows continue or prove an isolated spike. A return of ETF inflows would add the demand the current setup lacks.

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