Ripple Nears $1 Psychological Level: Why Whales Can't

Ripple (XRP) Falls Toward $1 as On-Chain Data Tells a Different Story

While major cryptocurrencies have seen modest recoveries over the past month, Ripple (XRP) has moved into a downtrend and is approaching the key psychological $1 mark for the first time since late 2024. On-chain analytics, however, reveal a divergence: large whales are aggressively accumulating the dip even as institutional inflows dry up.

Whales Accumulating, Exchanges Seeing Outflows

According to Santiment, the number of wallets holding at least 1 million XRP has risen over the last three months, signaling that long-term holders and high-net-worth wallets are buying the pullback. At the same time, exchange deposit metrics show a steep decline: XRP deposits to Binance addresses have reportedly dropped by roughly 96% compared with monthly and seasonal averages. Net inflow and outflow volumes for XRP are down about 79–85%, indicating fewer tokens are being moved to exchanges for potential selling.

Increased Activity from Existing Users, Not New Ones

Daily active XRP addresses climbed to an average of about 35,700 in August, driven by greater transaction frequency among established users rather than a surge of new wallets. This suggests on-chain engagement is healthy at the retail and whale levels—but it’s not translating into sustainable price support.

The Missing Piece: Institutional Demand

The critical constraint is fading institutional appetite for spot XRP products. Demand for institutional spot funds and large-scale inflows remains muted. Until major capital — such as institutional spot ETFs or large fund allocations — returns to the XRP market, price recovery will likely remain limited despite whale accumulation and reduced selling pressure on exchanges.

In short, on-chain indicators point to accumulation and active user behavior, but the absence of meaningful institutional liquidity is preventing a decisive rebound for this altcoin. Traders and investors should watch exchange flows, large-wallet accumulation trends, and any signs of renewed institutional spot demand for clues on XRP’s next major move.