- XRP trading volumes hit their lowest since August 2020, despite holding above $2
- Whale flows and large wallet growth signal growing bullish sentiment
- Ripple’s legal standoff with the SEC continues to cast uncertainty over near-term price action
After that peak at $3.40 back in January, XRP’s been hangin’ steady above the $2 mark—but just barely. Since December 2024, every monthly candle has stayed above $2, sure, but the vibes have changed. Binance’s Q2 trading volume for XRP just slid to its lowest since August 2020. That’s not nothing. It suggests folks might be sitting on their hands, waiting to see where this thing’s headed.
Whale Moves and Whispered Rallies
But here’s where things get interesting. Whale flows, which had been in the dumps earlier this year, flipped positive in May, according to CryptoQuant. That’s a big shift—one that’s historically meant business. Last time we saw something similar? XRP exploded 420% in Q4 2024. Not saying it’s guaranteed to repeat, but that flow reversal might mean whales are sniffing opportunity again.
And just to pile it on, wallets holding 1M+ XRP hit an all-time high—2,850 of them now. Even the 10k+ club grew by 6.2% so far this year. Long-term players clearly aren’t spooked by the recent lull. That kind of quiet accumulation tends to speak louder than price action sometimes.
Sentiment Shift and Legal Limbo
According to Santiment, sentiment toward XRP just hit a 17-day high. Some of that buzz is tied to Ripple’s messy $50M settlement with the SEC, which hit a speed bump. Bitcoin and Ethereum, meanwhile, are kind of just drifting sideways. XRP’s getting all the chatter again.
But don’t get too comfy—Ripple’s legal case is still dragging on. Just this week, Judge Analisa Torres shut down a request for an “indicative ruling.” Basically, she said parties can’t just handshake their way out of a court decision. It’s either withdraw the appeals or go through the proper channels. No backroom deals here.
A Breakout or More Waiting?
So where does that leave XRP? On the edge, basically. Whale flows are heating up, big wallets are growing, sentiment’s ticking higher. Yet, the legal fog still hasn’t lifted, and trading volume remains thin. If history repeats, we could be looking at another late-year breakout. But for now, it’s all about watching the signals—and maybe a little patience.
