XRP plummeted to its lowest level in 15 months, prompting whales to buy nearly $2.24 billion worth of the token. This significantly reduced the supply and triggered a price rebound, pushing XRP above a key support level.
The latest XRP sell-off, which drove the token’s price down to nearly $1, in turn changed the behavior of whales. Large wallets stopped selling and began accumulating even more tokens, buying around 1.6 billion XRP in a week, for approximately $2.24 billion.
Within this flow, one transaction stood out: a lightning purchase of 120 million XRP, valued at around $206 million, executed in less than an hour. Simultaneously, on-chain activity showed a clear surge, with 1,389 transfers exceeding $100,000, the highest figure in four months for that segment. This increase in the volume of large transactions reinforced the interpretation that high-capital players were decisively taking positions.
Since the beginning of 2026, 42 wallets surpassed the one million XRP threshold, while approximately 25,000 addresses entered higher tiers used by on-chain analysts. Simultaneously, XRP reserves on exchanges fell to multi-year lows, a sign that a significant portion of the supply is being withdrawn from liquid markets.
Market structure and the potential future price of XRP
Despite this accumulation, the price and derivatives behavior presented a more ambiguous picture. XRP rebounded more than 10% from its low and managed to stabilize in the $1.44–$1.46 range, remaining above the support level near $1.42. However, the derivatives market was predominantly bearish, with approximately $399 million in short positions compared to just $152 million in long positions.
Institutional flows added another layer of complexity. Short-term inflows of approximately $100 million were recorded in XRP-linked ETFs, in contrast to outflows observed in other crypto products during the same period.
Looking ahead, the coexistence of tighter supply and high exposure to derivatives creates an environment prone to amplified price movements. If demand remains strong, lower exchange liquidity could accelerate rapid price increases; however, the concentration of tokens in the hands of a few raises the risk of sharp reversals if these large holders decide to redistribute.
Looking further ahead, analysts agree that regulatory clarity and institutional adoption will be the decisive factors for XRP’s sustained upward trend. For traders and fund managers, the priorities include monitoring exchange reserves, open interest in derivatives, and any changes in the behavior of large wallets that indicate a shift from accumulation to distribution.
