- XRP whales are offloading tokens, with flows on the XRP Ledger turning negative, raising concerns of further price corrections.
- XRP price struggles near $3, dipping to $2.89 intraday as whale activity intensifies.
- $69 million Ripple moved from Upbit, signaling major repositioning among large holders.
- Open interest in Ripple derivatives tops $8 billion, showing growing trader engagement despite selling pressure.
- XRP ETFs spark debate — Bloomberg analysts warn of lower demand compared to Bitcoin, but others argue demand is underestimated.
Whale Activity Pressures XRP Price
According to pseudonymous CryptoQuant analyst Maartunn, Ripple whales are dumping tokens aggressively, with on-chain data showing whale flows recently flipping negative. This trend mirrors early 2025, when sustained whale distribution preceded a sharp correction after Ripple hit a local peak.
Also Read: Can XRP Price Reach $4 by October Despite Regulatory Hurdles?
Currently, Ripple is trading just under the $3 mark, with a low of $2.89 earlier today, according to CoinGecko data. Adding to the bearish tone, about $69 million worth of Ripple was transferred from South Korean exchange Upbit to an unknown wallet — a move often associated with large-scale repositioning.
Derivatives Market Sees Rising Interest
Despite whale selling, trader interest in XRP derivatives remains strong. Open interest (OI) in futures and options surged to $8.11 billion, a 3.55% increase in 24 hours.
Also Read: BitMEX Launches XRP and RLUSD as New Margin Currencies for Derivatives
On the CME Group, Ripple futures have quickly gained traction, marking the fastest-ever contract to hit $1 billion in OI. This suggests that while spot holders are trimming positions, institutional and speculative demand for Ripple exposure continues to rise.
XRP ETF Demand: Underestimated?
The question of demand for exchange-traded funds (ETFs) remains a hot topic. Eric Balchunas, Bloomberg’s senior ETF analyst, clarified that while demand will be lower compared to Bitcoin ETFs, it doesn’t mean Ripple ETFs lack a market.
Interestingly, CME’s Ripple futures success and the rapid growth of futures-based XRP ETFs — already surpassing $800 million — suggest otherwise. Nate Geraci, president of NovaDius Wealth Management, argues that XRP ETF demand is being underestimated, especially with Polymarket bettors giving 82% odds of approval in 2025.
Ripple faces a critical moment: whales are dumping tokens, pressuring short-term price action, while derivatives and ETF-related interest point to growing institutional momentum. If ETF approvals materialize in 2025, Ripple may transition from a volatile whale-driven market to a more regulated, demand-driven asset.