- XRP whales have offloaded more than 30 million tokens in just a few days, adding fresh pressure to the market.
- The sell-off erased much of the momentum that pushed XRP toward $1.29 earlier this month.
- Despite whale exits, institutional investors continue adding exposure through spot XRP ETFs.
XRP has found itself back on the defensive after a wave of selling from some of the network’s largest holders. Over the past five days, the token has faced mounting pressure as millionaire wallets reduced their exposure, triggering a sharp reversal that wiped out a large portion of its recent gains. For a cryptocurrency often described as the “North Star” of the Ripple ecosystem, the sudden shift has caught the attention of traders across the market.
According to on-chain data shared by analyst Ali Martinez and sourced from Santiment, wallets holding at least one million XRP collectively reduced their holdings from roughly 3.82 billion tokens to 3.77 billion. That decline may not look enormous at first glance, but it effectively introduced more than 30 million XRP into circulation within a very short period. When large holders move that much supply, markets tend to notice.
XRP Rally Loses Steam as Whales Take Profits
The recent rally actually started with plenty of optimism. On June 14, XRP was trading near $1.14 when improving macroeconomic sentiment and easing concerns around global trade disruptions sparked renewed buying interest across crypto markets. Investors appeared more willing to take on risk, and XRP benefited from the shift.
That wave of optimism pushed the token steadily higher. By June 16, XRP had climbed close to $1.29, reaching its strongest level in weeks. For a moment, it looked as though buyers might finally break through a key resistance area and build momentum for a larger move.
Instead, the rally ran into a wall. As the price approached those higher levels, large holders began taking profits aggressively. Selling pressure increased almost immediately, and the token started surrendering gains. Over the next several days, XRP slipped through multiple support levels and eventually fell back toward $1.13.
Derivatives Market Accelerates the Decline
The spot market wasn’t the only source of pressure. XRP’s downturn was amplified by weakness in the derivatives market, where leveraged traders were caught on the wrong side of the move.
As prices started falling, a wave of long liquidations swept through the market. Positions that had been betting on continued upside were automatically closed, creating additional sell pressure and accelerating the decline. This kind of chain reaction is common during sharp corrections, and XRP was no exception.
Part of the anxiety stemmed from the latest Federal Open Market Committee meeting. Market participants hoping for interest-rate cuts were disappointed after Federal Reserve Chair Kevin Warsh delivered a more hawkish tone than many expected. As expectations for easier monetary policy faded, risk assets across the board came under pressure, including cryptocurrencies.
Institutions Continue Buying While Whales Exit
Interestingly, institutional investors appear to be taking a very different approach from the whales.
While millionaire wallets were reducing exposure, spot XRP exchange-traded funds continued attracting fresh capital. Data shows XRP ETFs recorded approximately $5.3 million in inflows on June 16, right as the token reached its local high. Even after prices began falling, another $2.55 million flowed into these products on June 18.
That contrast creates an interesting dynamic. Large private holders seem focused on locking in short-term profits, while institutional investors appear more willing to accumulate during periods of weakness. The gap between those two strategies could suggest that the recent whale exodus is driven more by tactical trading than a broader loss of confidence in XRP’s long-term prospects.
$1.05 Emerges as the Next Key Battleground
With XRP now trading well below its recent peak, attention is shifting toward the next major support zone. Analysts are closely monitoring the area around $1.05, which could become a critical line of defense for buyers.
If bulls manage to hold that level, the recent decline may be remembered as a temporary correction fueled by profit-taking and macroeconomic uncertainty. However, if support fails, sellers could gain additional control and push XRP toward lower levels before a meaningful recovery begins.
For now, the market remains caught between two competing forces: aggressive whale selling on one side and steady institutional accumulation on the other. Which group ultimately proves right may determine XRP’s next major trend.
