XRP slipped below $2 after the 1st of December market crash and hit a local low near $1.90 before a mild rebound. At press time, Ripple’s [XRP] traded at $2.02, down 1.28% on daily charts and 8.42% on the weekly timeframe.
Even so, the broader weakness opened a buying window that whales quickly exploited.
Whales stayed active despite price weakness
Although XRP has struggled on its price charts, whales have remained increasingly active on the spot market.
CryptoQuant data showed large values on the Spot Average Order Size metric for 30 straight days.
Source: CryptoQuant
When this metric shows whale orders, it indicates increased participation by them, either buying or selling the altcoin.
In this case, these whales have been aggressively accumulating. This is so because the altcoin’s Spot Taker CVD has remained green for three consecutive weeks.
Source: CryptoQuant
When this metric is green, it indicates buyer dominance, suggesting that most orders executed in the market are buy orders.
XRP whale holdings hit a 7-year high
Interestingly, while whales remained active in the market, XRP has experienced a massive shift in holdings dynamics.
According to Santiment, the number of 100M+ XRP wallets dropped 20.6% in eight weeks.
Having said that, the group’s total balance surged to 48 billion XRP, marking a seven-year high.
Source: Santiment
By contrast, Whale to Exchange Flow on Binance stayed minimal, hovering near 1k daily transfers for a month. That pattern showed whales avoided deposits and favored withdrawals, which aligned with an accumulation phase.
Source: CryptoQuant
Technical signals kept the market under bearish control
Significantly, prolonged XRP weakness on its price charts has created a buying window, especially for whales. Despite the increased whale demand, the altcoin remains structurally bearish.
For that reason, the altcoin’s Relative Vigor Index Zero Cross formed a bearish crossover, dropping to -0.02, indicating intense downward pressure.
Source: TradingView
With the crossover here, it suggests that bears are still increasingly active in the market, and whale demand remains inadequate for bulls to regain control.
These circumstances leave one in a risky position, potentially leading to greater losses. Therefore, if bearishness persists, XRP could breach $2 support again, with its Parabolic SAR at $1.9 providing support.
However, if whale demand finally materializes in the market, the altcoin could be strong enough to reclaim $2.2 and target $2.5.
Final Thoughts
- The number of big wallets fell, but their total holdings climbed to a seven-year high, hinting at concentrated ownership.
- Technical signals still leaned bearish, so XRP’s path depended on whether whale demand could offset pressure near $2.
