Huge remittance of 116 million yen $XRP The Kraken to Binance trade sparked intense market speculation as the $165 million trade moved across the major exchange’s rails. While such large shifts often trigger “whale” warnings, a closer look at the current order book depth and OTC pattern suggests that this is not a precursor to a retail selloff, but rather a strategic play in rebalancing liquidity.
From Kraken subwallet to Binance subwallet https://t.co/XlUGTlUgCd?from=article-links
— $XRP_Liquidity (ETF 1Y 39.8B = up to 54.4B) (@XRPwallets) February 11, 2026
There were 116,661,476 transfers of interest $XRPwhose value at the time of the alert was $165,955,281. Whale Alert labeled this as “unknown wallet to unknown wallet”, but $XRPFocused trackers like “XRPWallets” attributed the root of the Kraken subwallet to the Binance subwallet.
$XRP Price trends and major support levels
Price trends help explain why this is gaining attention. On a daily basis $XRP– USD chart by TradingView, $XRP With a session high of around $1.4219 and low of around $1.35930, the stock is trading around $1.3616, down 2.83% on the day.
The price has already fallen below $1.60688 due to February’s sharp selloff. $XRP That level is indicated on the chart, and it is currently approaching the $1.35-$1.45 zone and if weakness continues, the next major support will be near the October low of $0.99677.
Based on liquidity considerations, the timing of the transfer did not coincide with a measurable and sudden increase in maximum claims suggesting an immediate distribution.
Institutional investor liquidity and sell-side intentions
OTC payments often use exchanges as rails. Inventory is staged, reconciled off the books, and transferred internally to reduce visibility of market impact. Large OTC prints can be hedged with derivatives, reducing spot reactions even on 9-digit trades.
Other relocations nearby also reinforce this pattern, with 104,855,849 people. $XRP On February 9th, $146,949,435 worth was attributed to the Kraken subwallet to the Binance subwallet. Repeated routing from the same source venue to the same destination venue is consistent with desk-level positioning and payment logistics rather than random wallet behavior.
The actual interpretation is that this is a liquidity signal and not an independent bearish factor. If similar routes start to turn into flows into confirmed hot wallets at the same time as the ask widens around the current price, we are more likely to see sell-side intent.
Until then, Binance’s stock positioning through rails and OTC-style settlements remain the more reliable explanation.
