Whale Accumulation Drives XRP Support as Institutional ETF Interest Wanes

Massive Whale Accumulation Offsets ETF Decline

Large long-term investors are stepping up purchases of XRP, creating a significant counterbalance to weakening institutional interest. According to Santiment’s on-chain analytics, whale wallets acquired 72 million XRP tokens in just the past 24 hours, extending a broader accumulation trend. Over recent weeks, these major holders have gathered more than 452 million tokens, bringing their combined positions to 12.18 billion XRP. The intensity of this activity is evident in wallet metrics as well: the number of addresses holding more than 1 million coins has grown by 32 in recent months, signaling that the accumulation is not concentrated in a handful of players but spread across multiple substantial holders.

ETF Outflows Signal Shifting Institutional Appetite

Meanwhile, institutional interest in XRP through spot exchange-traded funds has cooled considerably. According to SoSoValue, these funds have struggled to attract fresh capital during August, pulling in just $3.27 million during the entire first half of the month. The situation worsened mid-month when three consecutive trading sessions—August 10, 11, and 12—recorded zero net inflows. This persistent lack of demand has weighed on the ETF complex’s total assets under management, which tumbled to $942.25 million, officially sliding below the symbolic $1 billion milestone that many observers watch as a barometer of institutional appetite.

The $1 Support Level and Network Revival

The strength of whale buying activity becomes particularly significant when viewed against XRP’s technical picture. The token has maintained support around the $1 price level, which aligns with a major support line established in late 2024 on weekly charts. This price level appears to have attracted strategic buying from large holders, preventing further depreciation that could otherwise have materialized given the weakness in ETF flows.

Network activity metrics reveal an encouraging pattern beneath the surface. The XRP Ledger’s daily active address count surged from 26,400 to 35,700, suggesting increased participation from established users. However, the influx of new participants remains modest at approximately 2,260 per day, indicating that current price action is driven by experienced holders re-engaging with the network rather than fresh retail adoption.

The interplay between institutional withdrawal and whale accumulation is reshaping XRP’s supply dynamics. As ETF inflows have dried up, the consistent buying pressure from large holders has emerged as the primary force maintaining price stability. Without this sustained whale activity, XRP would likely have broken lower through the $1 support level and tested resistance further down around the $0.90 mark.

The shift from institutional ETF accumulation to whale-driven support suggests that XRP’s near-term price floor may depend increasingly on private investor conviction rather than broad institutional adoption, which could make the asset more volatile but also more agile in responding to on-chain developments and market catalysts.

Source: Santiment and SoSoValue, via U.Today. Not financial advice.