Whales sold 470 million XRP in 10 days, pushing the price up to $2.89.
Market pullback and current prices
In the 24 hours leading up to Federal Reserve Chairman Jerome Powell's speech at Jackson Hole, the cryptocurrency market experienced a slight pullback. Traders are closely watching this speech for policy signals.
As of the time of writing, the trading price of XRP is $2.89, with a 24-hour trading volume of $6.74 billion. The token has dropped 4% in the past day and 11% in the past week. After a rebound in July that pushed XRP above $3.60, the price movement has narrowed.
Whale selling and trading flow
Cryptocurrency analyst Ali Martinez reported that whales sold approximately 470 million XRP in the past ten days. On-chain data shows a sharp decline in holdings of large wallets during this period, corresponding with the large sell-off.
It is noteworthy that the sell-off activity on exchanges is quite evident. From late July to August, the inflow of funds to Binance increased. The largest single transfer amount at one point exceeded 100 million XRP, aligning with the change in price momentum. As of the time of writing, another 11.8 million XRP has flowed into Binance, keeping the market under pressure. Prior to the current sell-off, whale wallets were actively participating in the buyer's market. Martinez noted that during the previous decline, they accumulated over $360 million worth of XRP. Previously, they purchased approximately 320 million XRP in three days, worth nearly $1 billion.
Meanwhile, these trends indicate that whales remain a key driver of XRP supply and demand. Significant purchases during periods of price weakness may provide support, while continuous inflows of funds to exchanges will continue to weigh on short-term performance.
Broader market outlook
Following the settlement between Ripple and the U.S. Securities and Exchange Commission and the recent regulatory measures from the Trump administration, XRP trading has continued to rise in a legally clear context. As these developments are gradually digested by the market, investors' attention has begun to shift towards monitoring whale fund flows and macroeconomic events.
Analysts point out that if the sell-off continues, XRP may test the range of $2.70 to $2.50. If accumulation speeds up and the inflow of funds to exchanges slows down, the token may stabilize. Analyst Galaxy added that XRP has been in a five-year accumulation phase relative to Bitcoin, which indicates a potential shift after this cycle ends.
Prior to the current sell-off, whale wallets were actively participating in the buyer's market. Martinez noted that during the previous decline, they accumulated over $360 million worth of XRP. Previously, they purchased approximately 320 million XRP in three days, worth nearly $1 billion.
Meanwhile, these trends indicate that whales remain a key driver of XRP supply and demand. Significant purchases during periods of price weakness may provide support, while continuous inflows of funds to exchanges will continue to weigh on short-term performance.
Broader market outlook
Following the settlement between Ripple and the U.S. Securities and Exchange Commission and the recent regulatory measures from the Trump administration, XRP trading has continued to rise in a legally clear context. As these developments are gradually digested by the market, investors' attention has begun to shift towards monitoring whale fund flows and macroeconomic events.
Analysts point out that if the sell-off continues, XRP may test the range of $2.70 to $2.50. If accumulation speeds up and the inflow of funds to exchanges slows down, the token may stabilize. Analyst Galaxy added that XRP has been in a five-year accumulation phase relative to Bitcoin, which indicates a potential shift after this cycle ends.
