- XRP whale activity drops 97% as large investors step back amid price pressure.
- Analysts see a possible dip toward $0.90-$0.94 before a potential recovery.
XRP whale activity has dropped sharply, raising concerns about reduced participation from large investors as XRP struggles to maintain its recent gains.
According to data shared by crypto analyst Ali Martinez from Santiment, XRP transactions worth more than $1 million have fallen by 97% in just one week. The decline suggests that major XRP holders and institutional investors have become less active on the XRP Ledger.
XRP Whale Transactions Fall From 70 to Just 2
Large XRP transactions saw a significant drop after strong activity earlier in July. Data showed that XRP transactions exceeding $1 million were around 70 during the past week.
However, whale activity started declining rapidly after July 9. By July 12, the number of transactions above $1 million had fallen to only two, marking a 97% decrease.
The slowdown indicates that large investors may be taking a more cautious approach. While fewer whale transactions do not always mean XRP will fall, reduced activity from major holders often signals lower market participation.
The decline in whale movements also comes as XRP faces renewed selling pressure. XRP dropped more than 6% last week, reducing most of its July gains. After reaching a monthly gain of about 14%, XRP’s increase has now fallen to around 3.5%.
XRP Price Holds Near $1 Support
XRP is currently trading around $1.08 as sellers continue to pressure the price. The asset remains below a descending trendline that has limited recovery attempts since XRP reached a high of $1.55 on May 14.
Crypto analyst Cryptoinsightuk suggested that XRP could see another decline before a stronger recovery begins. The analyst highlighted a possible support zone between $0.90 and $0.94, where buyers could step in and absorb selling pressure.
A move toward this area would represent a decline of roughly 12.6% to 16% from current levels.
The $1.11 region remains an important resistance level for XRP. A breakout above this area could help XRP challenge the descending trendline and improve the outlook for a broader recovery.
XRP Could Rebound If Buyers Defend Key Support
Despite the recent weakness, XRP has managed to defend the $1 level for more than a month. Previous tests of this support zone have resulted in short-term rebounds.
If buyers continue protecting key support levels, XRP could attempt another recovery before reaching the $0.90-$0.94 demand zone. However, a sustained price recovery may depend on renewed buying activity from large investors and improved conditions across the wider crypto market.
For now, the sharp decline in XRP whale transactions suggests that major market participants are waiting for clearer signals before making large moves.
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