XRP Whales Shrink Their Bags by $535M as Market Turbulence Persists

Key Takeaways

• XRP whales have flipped bearish, distributing 250 million coins, worth $535 million in three days.
• As a result, XRP’s price has remained range-bound and has struggled to gain bullish momentum.
• XRP trades inside a symmetrical triangle, indicating indecision, but bears have the upper hand.

Unlike their aggressive accumulation trend in the final quarter of 2024, XRP whales appear to be more cautious. This shift in behavior seems closely tied to the altcoin’s lackluster price action.

Over the past 30 days, XRP has remained locked in a sideways pattern. CCN’s analysis suggests that this has happened as major holders opt to distribute their holdings rather than accumulate.

This trend could weigh on XRP’s short-term price action, as continued selling pressure from large wallets may suppress any immediate bullish momentum. Here is what could be next for the altcoin.

XRP Stakeholders Offload 250 Million Coins

According to on-chain data from Santiment, XRP whales have offloaded a substantial portion of their holdings in three days. On June 2, wallets holding between 10 million and 100 million XRP collectively held 7.80 billion coins.

That figure has declined to 7.55 billion, representing a net distribution of 250 million XRP.

This sell-off is valued at approximately $535 million at current prices, indicating a significant wave of selling pressure from large investors.

Historically, whale accumulation tends to support price growth.

But in this scenario, the opposite is occurring. If this trend continues without a corresponding surge in demand, XRP could face a breakdown below $2, opening the door to further downside in the near term.

Network Activity Drops

Beyond the heightened selling pressure, the Price–Daily Active Addresses (DAA) divergence is another metric reinforcing the bearish outlook. This indicator gauges whether user activity is rising with price movements.

A positive DAA divergence suggests strong user participation, indicating that an uptrend is well-supported.

On the other hand, a negative reading indicates waning engagement, hinting that fewer users interact with the network despite price movements.

At press time, it was the latter for XRP’s. Price. If this negative divergence persists, it could stall any bullish momentum and potentially trigger a deeper correction.

XRP Price Prediction: No Way Out Yet

From a technical standpoint, XRP’s daily chart reveals a symmetrical triangle formation. The structure is defined by converging trendlines, with resistance forming the upper boundary and support creating the lower one.

The Bull Bear Power (BBP) indicator is flashing negative, suggesting bearish momentum is gaining ground. This reading supports the broader narrative of sustained XRP whale distribution.

If this pressure persists, XRP’s price may continue to consolidate, or worse, slip toward the $1.55 level, which aligns with the 0.382 Fibonacci retracement.

However, a shift in whale behavior, particularly renewed accumulation, could flip the script.

In such a scenario, XRP may rebound strongly, with a possible rally toward $2.76 near the 0.786 Fibonacci level, or even revisit $3.