XRP (XRP) whale transactions fell from 70 to two in one week as U.S. spot ETF outflows and geopolitical tension weighed on demand.
Key Points:
- XRP Ledger transactions worth more than $1 million dropped from 70 to two within a week.
- U.S. spot XRP ETFs recorded about $7.18 million in weekly net outflows.
- XRP briefly fell to $1.06, while derivatives open interest showed a modest increase.
XRP Whale Activity
Large transactions on the XRP Ledger declined sharply during the past week, according to data shared by crypto analyst Ali Martinez.
The number of transfers worth more than $1 million fell from 70 to two, based on figures from Santiment, marking a steep reduction in activity among large holders. Martinez said the slowdown could point to consolidation, although weaker whale demand may also limit the token’s ability to recover.
The decline coincided with about $7.18 million in weekly net outflows from U.S. spot XRP exchange-traded funds. The reversal ended a recent inflow streak and suggested that institutional demand had weakened as renewed conflict between the United States and Iran increased risk aversion across markets.
Iran launched attacks on U.S. military facilities in several Middle Eastern countries, including Bahrain, Kuwait and Jordan. The escalation added pressure to risk assets and complicated the near-term outlook for crypto markets.
Market participants are also watching the XRP Ledger 3.2.0 upgrade, which is expected to expand tokenization and decentralized finance functions. However, development activity has not offset the immediate decline in large transactions and fund flows.
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XRP Price Outlook
XRP fell from $1.10 to a 24-hour low near $1.06 before recovering to about $1.07. Trading volume rose 18% during the same period, showing increased activity as the price tested lower levels.
Martinez previously identified $0.90 as a possible support area. He also cited on-chain cost distribution levels near $0.80, $0.62 and $0.51 as zones traders could monitor if selling accelerates.
Derivatives data offered a more mixed signal. XRP futures open interest rose about 0.75% over four hours to $2.29 billion, including gains on CME and Binance, suggesting some traders were adding leveraged positions despite weaker spot demand.
Whale flows had already begun deteriorating before the latest decline. The 30-day moving average of XRP whale flows recently turned negative for the first time in almost four months, while the token has struggled to hold gains around the $1.10 level.
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