What to know:
- XRP price stayed near $1 as whales accumulated more than 72 million tokens in 24 hours.
- Wallets with at least 1 million XRP rose by 32 in three months as market cap fell 29%.
- Technical support sits near $0.87 and $0.77–$0.80 before any confirmed price reversal.
The XRP price remained near $1 after its weakest daily close since November 2024. Yet whale purchases and network activity rose during the decline. The token still lacked a confirmed bottom as traders monitored lower support levels.
On-chain analyst Ali Martinez reported that whales bought more than 72 million XRP within 24 hours. The purchases followed a decline of about 69% from the January 2025 peak near $3.30. The data shows accumulation, but it does not confirm a clear short-term market bottom.
Why Whale Activity Rises as XRP Price Falls
The number of wallets with at least 1 million XRP rose by 32 within three months, Santiment stated. It happened even though the market capitalization of XRP declined by 29%.
Also Read: XRP Ledger 3.3.0 Retires Five Amendments, Adds Six Proposals
Moreover, large holders purchased more than 380 million tokens for the week of Aug. 9. Their total holdings crossed the mark of 8 billion XRP. This position had a value of roughly $8.2 billion based on prices prevailing at that time.
CryptoQuant contributed one more indicator of such activity. About 81% of the XRP transferred from Binance on Aug. 3 ended up in wallets labeled as large holders. This figure equaled 72% for other centralized exchanges.
According to Santiment, the average number of daily active addresses was 35,700 for August. The July average was at around 26,400. August 11 saw activity at its peak since June 5.
The creation of new addresses remained relatively stable during the period. On average, the blockchain network had around 2,260 addresses created per day in August, which is similar to July.
XRP Price Tests Major Technical Support Zones
Crypto trader Diana noted that XRP is trading in the context of a descending pattern starting from its high at $3.66. XRP prices in her chart were located in the $1-$1.004 range of the Fibonacci. The formation had yet to form a reversal.
The next support level on the chart was $0.87. The lower zone was between $0.77 and $0.80, forming the line of an ascending trendline. According to Diana, this area could mark the end of the bigger correction.
These levels still represent a scenario on the technical chart. The XRP price could test support and form a bottom before this scenario works. Any breakdown from these zones could spoil the potential reversal setup.
In case of the bullish scenario, the initial levels of recovery would be located at $1.46 and $1.57. Higher resistance could be found at $1.97 and $2.37. For a buyer to gain back control, the XRP price would need to overcome each of them.
Currently, the XRP price trades near the $1 psychological support level. Whale balances and network activity have increased, while the number of new users hasn’t changed much. Price confirmation is still needed for the description of the correction as a recovery.
Also Read: XRP Price Holds Above $1 as Breakdown Risks Return Below Support
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