XRP’s largest holders accumulated more than 72 million tokens over the past 24 hours as the cryptocurrency traded near $1 and recorded its weakest daily close since November 2024, according to Santiment data.
On-chain analyst Ali Martinez, citing the Santiment data, highlighted a growing gap between XRP’s price performance and the behavior of its largest holders. XRP has fallen roughly 69% from its January 2025 peak near $3.30. The data highlights continued accumulation among large XRP-holding wallets even as the token remains well below its previous peak.
The buying also comes as XRP remains well below its previous highs, with the token trading near $1 as of 08:20 UTC on August 14 and carrying a market capitalization of about $62.9 billion, according to CoinMarketCap data.
Large holders keep accumulating
The latest whale purchases appear to be part of a wider accumulation trend. Blockchain analytics platform Santiment reported that the number of wallets holding at least 1 million XRP has increased by 32 over the past three months to around 2,033.
Large holders also accumulated more than 380 million XRP in the week through August 9, taking their combined holdings above 8 billion XRP. At current prices, those holdings are worth roughly $8.2 billion.
The continued accumulation stands in contrast to XRP’s recent price performance. However, whale buying by itself does not guarantee a price recovery. Large holders can accumulate for different reasons, and the market still needs to confirm whether the buying will translate into sustained demand.
Network activity picks up
Whale accumulation is not the only notable change in XRP’s on-chain activity. Average daily active addresses rose to roughly 35,700 in August from around 26,400 in July, according to Santiment, representing an increase of about 35%. Activity peaked on August 11, marking the network’s busiest day since early June.
The increase, however, has largely come from existing users rather than a surge in new participants. Santiment recorded about 2,260 new addresses per day in August, compared with roughly 2,270 in July.
The data suggests that the increase in activity has been driven more by existing users than by a significant influx of new addresses.
Exchange flows provide another signal worth watching. About 81% of XRP withdrawals from Binance were reportedly sent to private wallets. While such transfers can indicate that investors are moving tokens away from exchanges for longer-term storage, they do not by themselves confirm bullish sentiment or an intention to hold.
XRP faces key support levels
With XRP still trading near $1, traders are closely watching whether the token can hold key support levels as selling pressure continues.
Crypto trader Diana identified $0.87 as a near-term support level, while the $0.77-$0.80 range could become a crucial area if selling pressure intensifies. That region also aligns with a long-term rising trendline, making it an important level for XRP’s broader price structure. On the upside, the analysis points to $1.46, $1.57, $1.97 and $2.37 as potential resistance or target levels.
Before such a move can develop, however, the token could face resistance around $1.06, where nearly 3 billion XRP are reportedly positioned near their break-even level.
What comes next for XRP?
The accumulation data and higher activity levels provide evidence of continued engagement among large XRP holders and existing network participants, but neither confirms a sustained price recovery.
For now, the key developments are whether large-holder accumulation continues and whether network activity remains elevated while XRP trades near $1.
Holding the $0.87-$0.80 support area could be important for XRP’s near-term price structure. A sustained break below the range could weaken the recovery setup, while a move above key resistance levels could improve the technical outlook. The levels cited above are market-analysis estimates, not predictions by The Crypto Times.
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