Ripple (XRP) Whales Snap Up 72M Tokens While Price Defends $1 Level

TLDR

• Ripple’s XRP is currently trading at approximately $1.009, maintaining the critical $1.00 psychological threshold
• Major investors accumulated more than 72 million XRP tokens within a 24-hour period, while large holders added 380 million XRP during the week ending August 9
• Spot XRP exchange-traded funds registered $2.25 million in net inflows by Thursday, signaling a potential fifth consecutive week of positive capital flows
• The number of wallets containing a minimum of 1 million XRP increased by 32 over a three-month span, reaching approximately 2,033 total addresses
• The token continues trading beneath its 50, 100, and 200-day exponential moving averages, down approximately 69% from its January 2025 high near $3.30

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Ripple’s XRP is hovering around $1.009 on Friday, establishing stability at the $1.00 threshold following its lowest daily closing price since November 2024. The digital asset has experienced a decline of roughly 69% from its January 2025 peak of approximately $3.30.

While the price has retreated significantly, major stakeholders continue accumulating. Blockchain analytics expert Ali Martinez revealed that whale investors acquired over 72 million XRP tokens during a single 24-hour period. Martinez highlighted this accumulation activity, questioning whether these substantial holders are strategically positioning themselves in anticipation of a possible price recovery.

This purchasing behavior extends beyond a single day’s activity. Information from Santiment indicates that addresses holding a minimum of 1 million XRP expanded by 32 throughout the previous three months, elevating the total count to approximately 2,033. These addresses accumulated over 380 million XRP during the week concluding on August 9, driving their collective holdings beyond 8 billion XRP, valued at roughly $8.2 billion based on prevailing market rates.

ETF Capital Flows Remain Constructive

Institutional appetite continues demonstrating resilience. According to SoSoValue tracking, spot XRP exchange-traded funds captured $2.25 million in net inflows through Thursday of this week. Should Friday conclude with additional positive flows, it would represent XRP’s fifth straight week of net ETF capital inflows.

Approximately 81% of Binance XRP withdrawals were transferred to private wallet addresses, indicating that certain investors are relocating their holdings away from exchanges for extended holding periods.

Blockchain activity has experienced notable growth. Average daily active addresses climbed to around 35,700 in August, representing an increase from 26,400 recorded in July. August 11 marked the highest activity day since June 5. Daily new address creation held steady at approximately 2,260, indicating the surge stems from existing participants rather than fresh market entrants.

Critical Price Zones Under Observation

XRP’s realized price rests at approximately $0.75, positioned below the current trading price of $1.01. This indicates XRP hasn’t yet entered the significantly undervalued territory observed during prior market cycle bottoms.

From a technical perspective, XRP trades beneath its 50-day EMA positioned at $1.087, its 100-day EMA at $1.169, and its 200-day EMA at $1.362. The Relative Strength Index registers at 36, below the neutral 50 level, while the MACD indicator continues displaying negative momentum.

Cryptocurrency analyst Diana pinpoints $0.87 as the subsequent critical support level, with the $0.77–$0.80 range representing a broader decision area. On the resistance side, $1.06 serves as an immediate obstacle, with approximately 3 billion XRP tokens concentrated near cost basis at that price point.

Should current support levels maintain, Diana’s bullish price objectives span from $1.46 to $3.56–$3.66, approaching the prior all-time high territory.

The post Ripple (XRP) Whales Snap Up 72M Tokens While Price Defends $1 Level appeared first on Blockonomi.

Source: https://blockonomi.com/ripple-xrp-whales-snap-up-72m-tokens-while-price-defends-1-level/