XRP is seeing a major divergence in its whale-retail market trend across exchanges as the asset continues to show mixed price action.
Latest data from crypto analytics platform CryptoQuant shows that XRP's whale trading trend on Binance has returned to its lowest level in about two months.
XRP small and large traders on Binance repeat May trends
With XRP hovering around the $1.1 price range, on-chain data as of July 16 shows that the Whale vs. Retail Gap on Binance has dropped to 35.1%, nearly matching the 35.6% recorded on May 3.
While this shows that the metric has retreated to its two-month low, it is important to note that the XRP Whale-Retail Spread metric typically measures how differently the large traders of the asset behave when compared to smaller traders.
While the data on Binance shows a notable drop in the metric, causing a lower spread in XRP whale-retail trading on Binance, it means that whales and retail traders are acting more similarly on the exchange.
XRP sees major shift in broader market
Nonetheless, the data further shows that the Whale vs. Retail spread across all other crypto exchanges shows an entirely different pattern, as it remains significantly higher at 38.4%, compared with 26% recorded on May 6.
Notably, this suggests that while Binance's trading dynamics have reverted to earlier levels, which are significantly low, whale and retail activity across the wider market has remained high, signalling a major difference in how whales are trading compared to retail traders.
While the metric did not entirely specify the trading behavior of whales, its increase across the broader market suggests that XRP whales on other exchanges are either buying heavily or selling heavily while retail traders are doing the respective opposite.
Dan Burgin
U.Today Editorial Team
