XRP price is hovering around $1, but whale activity is giving the market a different story. While the token just recorded its weakest daily close since November 2024, large holders are continuing to accumulate, raising the question: could this correction be setting up XRP’s next rally?

Whales Buying the Dip

On-Chain analyst Ali Martinez reported that whales bought more than 72 million XRP in just 24 hours. The buying comes after XRP fell roughly 69% from its January 2025 peak near $3.30, pointing that some large holders are treating the current weakness as an opportunity rather than exiting.

The accumulation is not limited to one day. Santiment data shows wallets holding at least 1 million XRP have increased by 32 over the past three months to around 2,033.

Large holders also added more than 380 million XRP in the week to August 9, taking their combined balances above 8 billion XRP, worth roughly $8.2 billion at current prices.

Existing Users Are Becoming More Active

Santiment also found that XRP’s network activity has picked up despite the price decline.

• Average daily active addresses reached around 35,700 in August, versus 26,400 in July.
• August 11 was the busiest day since June 5.
• New addresses, however, remained almost flat at around 2,260 daily.

So the rise is mainly coming from XRP’s existing user base rather than a fresh wave of new participants.

Around 81% of Binance XRP withdrawals were also routed to private wallets, another development worth watching as investors assess whether holders are moving coins away from exchanges for longer-term storage.

Technically: Could XRP Price Reach $2–$3 Again?

Crypto investor Diana sees $0.87 as the next major support. If XRP falls further, the $0.77–$0.80 area becomes the larger decision zone, where a multi-year rising trendline also comes into play.

If that support holds and XRP reverses, her upside levels are:

• $1.46
• $1.57
• $1.97
• $2.37
• $3.56–$3.66, near the previous ATH

The biggest hurdle before a larger recovery could be around $1.06, where nearly 3 billion XRP are reportedly sitting near break-even.

For now, whale accumulation is the main bullish clue. XRP still needs to prove the bottom is in, but if large holders continue buying around these levels and price holds $0.87–$0.80, the setup could gradually shift from correction to recovery, with $1.46–$2.37 as the first major upside path and the previous ATH as the bigger test.

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