XRP Remains Quiet Despite Whale Activity and Increased Demand from Short-Term Holders

XRP has experienced a spike in whale transfers and short-term holder (STH) accumulation, yet it remains subdued in price performance. With 716 whale transfers over $1 million in a single day—the highest count in four months—short-term holders are making their presence felt. However, the derivative market remains calm, and price pressures persist.

Key Takeaways

XRP registered a notable increase with 716 whale transfers exceeding $1 million, marking its highest surge in four months.
Short-term holders are actively accumulating XRP, while the derivatives market maintains stability.
Traders are anticipating a potential price adjustment, but current indicators suggest ongoing consolidation.

Surge in Whale Activity as Short-Term Holders Accumulate

XRP recently recorded 716 whale transfers of over $1 million, indicating its busiest day in four months!

XRP

Recent analytics reveal that this surge in large transactions coincides with an uptick in accumulation among specific short-term holders. According to Glassnode’s HODL Waves chart, there’s a clear increase in both the 1-3 month and 1 week-1 month holding bands. This trend suggests that capital is being reallocated into XRP rather than being distributed by long-term holders.

XRP

As a result, short-term wallets are increasing their share of the total supply, while whale activity bolsters their presence on the network.

Calm in the Derivatives Market Despite Activity Surge

Despite these developments, the derivatives market for XRP has displayed a surprisingly restrained reaction. The aggregated Open Interest (OI) has remained steady around $1.30 billion over the past week, amidst a rise in spot-side volatility. Funding rates have slightly drifted positive, sitting near 0.0057.

This indicates that there is neither aggressive long-side leverage nor an overload of short positions.

XRP Derivatives

Therefore, it appears that speculative traders are not driving the recent shifts on-chain; instead, XRP's activity is primarily focused on spot accumulation.

Ongoing Price Pressures

The daily chart for XRP shows that the token is having difficulty breaking through critical resistance levels. Currently, all significant Exponential Moving Averages (EMAs)—the 20, 50, 100, and 200—are positioned above the spot price.

XRP Price Chart

The latest trading candles indicate a price around $2.24, showing minimal buying momentum following a brief rebound last week. Additionally, trading volume has decreased compared to the earlier surge in November, suggesting a decline in trader confidence.

Currently, the Relative Strength Index (RSI) is hovering near 41, placing XRP in a neutral-to-bearish position; momentum remains subdued. Unless XRP manages to reclaim the EMA cluster between $2.36 and $2.50, the near-term outlook may entail continued consolidation or potential downside.