XRP showed signs of strengthening late July, trading around $1.14 with a 2% gain. Key on-chain metrics highlight a shift in market dynamics driven by large holders. Whale selling on Binance has sharply declined, signaling a potential reduction in immediate supply pressure.

Whale Behavior and Its Implications

On-chain analyst Darkfrost reports whale inflows to Binance dropped to 25.3 million XRP, the lowest since January 2025. At peak levels earlier this year, whales transferred up to 583 million XRP, worth about $1.36 billion, onto the exchange. The 90-day average inflow value plummeted from $460 million to roughly $69 million. Reduced deposit activity from large wallets commonly precedes a price stabilization phase since fewer tokens flood the market. Darkfrost interprets this as exhaustion of major sellers while price consolidates around $1 since June. However, for a sustained rally, renewed demand must materialize beyond supply constraints.

Meanwhile, on-chain data from Santiment reveals that large holders addresses between 100,000 and 100 million XRP have increased their positions by 2.8% over five weeks. Conversely, micro wallets under 0.01 XRP decreased holdings by 5.2%, illustrating a divergence where institutional or whale investors accumulate while retail participants retreat. This behavior aligns with XRP’s historical trends and recent developments such as the easing of regulatory uncertainty following Ripple’s SEC resolution and the expanding use cases via the XRP Ledger, including payment solutions and tokenization.

Spot market activity complicates the bullish narrative as volume has weakened on exchanges like Binance and Upbit. Lower trading volume can reflect fading interest but also means retail-driven FOMO has not yet emerged. This provides room for demand growth without immediate exhaustion.

The current accumulation by large wallets may establish a price floor, but it is not yet a launchpad for a strong uptrend. Market participants should watch for sustained spot buying as a confirmation signal, while keeping broader macro conditions in mind.

material is informational and not financial advice