The price of XRP is currently around $1, but recent whale activity is giving the market a different perspective. Despite recording its weakest daily close since November 2024, large holders are accumulating more XRP, sparking speculation about a potential rally in the future.
Whales have been buying significant amounts of XRP, with over 72 million XRP purchased in just 24 hours following a 69% decline from its peak in January 2025. This accumulation trend has been ongoing, as wallets holding at least 1 million XRP have increased by 32 over the past three months.
Moreover, large holders added over 380 million XRP in the week leading up to August 9, pushing their combined balances above 8 billion XRP, valued at approximately $8.2 billion at current prices.
Despite the price decline, XRP’s network activity has been on the rise. Average daily active addresses reached around 35,700 in August, compared to 26,400 in July. This increase in activity is mainly attributed to existing users rather than new participants.
As for the technical outlook, if XRP falls further, $0.87 is seen as the next major support level, with the $0.77–$0.80 range as a crucial decision zone. If the support holds and XRP reverses, potential upside levels include $1.46, $1.57, $1.97, $2.37, and potentially reaching the previous all-time high of $3.56–$3.66.
Whale accumulation remains a key bullish indicator, and if price levels hold above $0.87–$0.80, XRP could gradually shift towards a recovery phase, with $1.46–$2.37 as initial upside targets and the previous all-time high as a significant hurdle to overcome.
