Ripple’s cross-border token fell about 4% over the past week, and recent moves by large holders indicate a potential for a deeper decline.
At the same time, growing institutional interest may offer some upside—let’s take a closer look.
The Whales Back Off
Prominent crypto analyst Ali Martinez reported that whales have sold or redistributed roughly 1.1 billion XRP in the last seven days. At current prices, that amount is worth more than $1.5 billion and should serve as a caution to bullish traders.
Large holders typically do not shift such meaningful quantities without a reason, and some market participants suspect these investors act ahead of broader moves because they have access to additional information or insight. Such redistribution can reflect diminished confidence in the asset and could foreshadow increased price volatility. It can also trigger anxiety among smaller holders, prompting further selling.
After the recent activity, whale-controlled balances fell below 7.9 billion XRP, equivalent to about 12% of the token’s circulating supply.
Martinez has commented on XRP several times lately. Earlier in the week he observed that the token had consolidated within a triangle pattern and appeared to have reached the pattern’s apex. That technical setup raises the likelihood of a significant price movement, though it does not indicate direction—breakouts can occur to the upside or downside.
Separately, XRP holders are closely watching a recent proposal from the U.S. Securities and Exchange Commission, which could change how regulators classify and treat the token.
Green Days for the ETFs
Spot XRP exchange-traded funds have recorded substantial inflows recently, suggesting increased interest from institutional investors such as hedge funds and pension plans. In fact, the most recent day with net outflows was April 9. Consistent inflows are generally viewed as bullish because ETF issuers must hold real tokens to back the shares they issue.
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Source: SoSoValue
The first spot XRP ETF launched in November of last year, introduced by Canary Capital. Other issuers followed, including Bitwise, Franklin Templeton, 21Shares, and Grayscale. Collectively, these products recently reached a new all-time high for net inflows, approaching $1.3 billion.
ETF flows are lagging indicators and do not guarantee future price moves, but they offer a useful gauge of market sentiment. If institutional inflows remain strong, they could help establish a firmer price floor for XRP and make it harder for sellers to drive the price down sharply.