TL;DR
- Whales dumped 470M XRP in ten days, driving prices down and adding strong selling pressure.
- Despite sell-offs, whales also accumulated $360M XRP during dips, showing ongoing demand and market interest.
- XRP trades at $2.89 as analysts warn of potential $2.70 support if selling continues.
Market Pullback and Current Price
The crypto market posted a slight pullback in the past 24 hours ahead of Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. Traders are watching the event closely for policy signals.
XRP was trading at $2.89 at press time, with a 24-hour volume of $6.74 billion. The token has lost 4% in the last day and 11% in the past week. The price action has narrowed after a rally in July pushed XRP above the $3.60 mark.
Whale Selling and Exchange Flows
Crypto analyst Ali Martinez reported that whales sold about 470 million XRP in the last ten days. On-chain data shows a steep drop in holdings by large wallets during this period, consistent with heavy distribution.
Notably, the selling activity has been visible on exchanges. Inflows of XRP to Binance increased through late July and August. The largest transfers reached more than 100 million XRP at a time, coinciding with the shift in price momentum. As of press time, another 11.8 million XRP entered Binance, keeping pressure on the market.
Before the current sell-offs, whale wallets were active on the buy side. Martinez noted that during the previous dip, they accumulated over $360 million worth of XRP. Earlier, they purchased about 320 million XRP, valued at nearly $1 billion, in a three-day span.
Meanwhile, these moves suggest that whales remain a key driver of XRP’s supply and demand. Large purchases during periods of price weakness may provide support, while continued inflows to exchanges continue to weigh on short-term performance.
Broader Market Outlook
XRP has been trading against a backdrop of legal clarity after Ripple’s settlement with the US SEC and recent regulatory measures from the Trump administration. With those developments now absorbed into the market, investors are focused on whale flows and macroeconomic events.
Analysts note that if selling continues, XRP could test the $2.70–$2.50 range. If accumulation gains pace and exchange inflows ease, the token may stabilize. Analyst Galaxy added that XRP has been in a five-year accumulation phase against Bitcoin, pointing to potential changes when that cycle ends.
