Data shared by CryptoQuant’s analyst Maartunn shows that XRP whales are offloading their tokens.
Notably, this trend comes at a time when XRP is facing bearish pressure. Notably, the token has dropped by over 6% in the last seven days, although it is in the green in the 14-day timeframe.
After pushing past $3 on October 3, XRP plummeted below $2.50 a week later. Since then, the highest it has gone is $2.83, currently changing hands at $2.43. This drop notably coincides with massive whale offloading, often a negative signal for the market.
Sell Pressure Persists
According to data shared by CryptoQuant’s Maartunn, on average, XRP whales are selling $50 million per day. Martuun’s chart shows that during 2022 through early 2023, whale flow was predominantly positive on the 30DMA. This accumulation phase coincided with price stability, suggesting whales were building positions.
Meanwhile, mid-2023 through the first three quarters of 2024 turned decisively negative. During this time, the price was range-bound, albeit with fluctuations. After a surge in whale inflows throughout the rest of the year, XRP saw a spike in price, reaching a high of $3.4 on January 16, 2025.
Notably, during the spike, whale inflows were in the negative region. This was the most negative reading on the entire chart, as investors possibly began profit-taking trades amid XRP’s rally above $3.
However, a brief accumulation window occurred in April as XRP collapsed to the $2 support level. This accumulation persisted until late June, when XRP recovered above the $2 mark. The recovery led to the latest round of profit-taking trades, which have endured until now.
Currently, whale flow shows sustained negative pressure at approximately -$50 million per day. The whale behavior observed from the chart indicates that whales tend to take profits when XRP recovers to greater heights but accumulate more during price drops.