The anticipated bullish surge following the approval of the XRP ETF has not materialized, with the cryptocurrency experiencing continued downward pressure. This trend is largely attributed to ongoing selling activities by large holders, which are exerting significant influence on the market.
Data from CryptoQuant reveals that the majority of inflows to Binance are coming from significant holders, specifically those holding between 100,000 to 1 million XRP, as well as those with over 1 million XRP. This trend indicates that these “whales” are transferring large amounts to exchanges, typically a precursor to selling.
Following each notable inflow spike, XRP has been forming a pattern of lower highs and lower lows, indicating that supply is outpacing demand in the absence of substantial new buyers in the spot market. Although whales are not aggressively dumping their holdings, the increasing supply available on exchanges is contributing to the downward trajectory of prices.
CryptoQuant”s analysis suggests that the current market dynamics are unfavorable for any significant price rallies. The first major support region has been established between $1.82 and $1.87, where the price previously stabilized and attracted some smaller buyers. However, analysts caution that should the inflow trend persist, XRP could further retreat into the range of $1.50 to $1.66.
Whales capitalized on the optimism surrounding the ETF approval by accumulating XRP prior to the announcement, subsequently providing liquidity to the market by selling to retail investors. This has resulted in sustained selling pressure whenever XRP prices approach the $1.95 mark, rendering bullish expectations unrealistic until exchange inflows diminish.
Compounding these technical challenges, XRP is also facing increased institutional adoption and evolving regulatory frameworks. Ripple”s Chief Technology Officer has noted significant enterprise engagement on the XRP Ledger, with a growing emphasis on liquidity and tokenized assets. Concurrently, U.S. legislators are progressing with crypto market structure bills that may clarify XRP“s legal standing.
However, analysts warn that a drop below $1.77 could trigger a further decline down to $0.79. Although the technical outlook appears bearish, the potential for ETF-related opportunities alongside whale accumulation presents a counterbalance. Investors are keenly observing the $1.75 to $1.80 support zone this week; maintaining this level could lead to relief rallies, while a breakdown could test lows not seen since April 2025.
