The XRP million-token wallet count rose by 32 addresses in the past three months, while its market cap dropped approximately 29% over the same period.
Larger holders expanded their holdings during the weakness, rather than reducing their exposure as valuations declined.
Meanwhile, XRP Ledger maintained its institutional relevance in the form of stablecoins and payments tied to Ripple, custody, and tokenization infrastructure.
Larger holders appeared more willing to absorb weakness, while market pricing continued to reflect broader selling pressure. Their accumulation could support recovery later, provided technical conditions also strengthened around current levels.
Falling NVT improved XRP’s valuation backdrop
Network valuation provided another constructive element alongside the expanding whale cohort. The NVT ratio of XRP has decreased by 4.13% in the last 24 hours and is now at 276.4959 on the chart below.
The overall trend of a falling NVT typically meant that the network was doing better in terms of transaction volume as compared to the total value of the network.
Therefore, the latest decrease complemented the institutional utility narrative surrounding XRP Ledger. That divergence added depth to the accumulation case rather than relying solely on wallet growth.
Still, 276.4959 remained elevated enough to make further improvement important for stronger valuation support.
Continued NVT declines could strengthen the argument that network usage increasingly justified XRP’s underlying valuation. With increased whale concentration, this could help build a solid base for a future price recovery over time.
Can XRP defend the $0.9917 floor?
Price action delivered a challenge to the increasingly constructive on-chain picture. XRP lost the $1.0391 level and traded around $1.0224 at the time of writing.
Sellers therefore pushed the price toward $0.9917, which represented the nearest major support beneath current levels.
RSI also fell to 38.50, while its average remained higher at 40.89. The indicator’s weakness reflected continued downside momentum following the break below $1.0391.
A defense of $0.9917 could encourage stabilization and place $1.0391 back within recovery range.
Reclaiming that former support could then improve prospects for a broader move toward $1.1500. Losing $0.9917 would instead weaken the recovery case despite favorable whale accumulation.
Liquidation pressure surrounds XRP’s current price
Derivative positioning added another layer of tension around XRP’s $1.022 market area. The liquidation heatmap showed substantial long-liquidation leverage concentrated below the prevailing price.
Particularly heavy clusters appeared around the $0.987 region, with additional exposure extending across nearby lower levels.
Meanwhile, short-liquidation leverage increased quickly above $1.022 and continued building toward higher prices.
Several notable short clusters appeared between roughly $1.027 and $1.045. This structure created competing liquidity attractions on both sides of XRP’s immediate trading range.
However, the technical breakdown below $1.0391 gave downside liquidity greater immediate relevance. A move toward $0.9917 could therefore expose leveraged longs before buyers attempt a stronger defense.
Alternatively, reclaiming $1.0391 could pressure shorts and support an accelerating recovery toward higher resistance.
Final Summary
- XRP whale wallets expanded despite falling valuations, strengthening the longer-term accumulation narrative.
- Defending $0.9917 and reclaiming $1.0391 could strengthen XRP’s recovery attempts.
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