XRP Faces Large Binance Withdrawals and Price Drop Near $1.12 Support

Crypto analytics firm CryptoQuant reported that, since the start of June, Binance has seen a surge in massive XRP outflows, with daily withdrawals exceeding 1 million XRP and a total of roughly 465 million XRP moved between 3 June and 11 June. The firm said the repeated, large‑scale exits suggest whale‑level activity influencing market liquidity.

At the same time, XRP’s price has slipped about 8.9% over the past week, trading near $1.12 as of 10 June. Analysts highlighted the level as a critical support point; a breach could trigger further declines, while a hold above it might allow a test of resistance around $1.20‑$1.25. Technical indicators such as the 100‑hour moving average, Fibonacci retracements and the Tom DeMark Sequential were cited in assessing short‑term outlooks.