Whale Purchases of XRP Exceed 72 Million, No Confirmation of a Bottom Yet

XRP is trading around $1 following its weakest daily close since November 2024. While large investor purchases have increased network activity, there has yet to be confirmation of a clear bottom. In the last 24 hours, whales have purchased over 72 million XRP. These purchases occurred after a nearly 69% drop from XRP's peak of about $3.30 in January 2025. According to Santiment data, the number of wallets holding at least 1 million XRP has increased by 32 in the last three months. During the same period, XRP's market capitalization has decreased by 29%. In the week of August 9, large investors bought over 380 million tokens. Approximately 81% of the XRP leaving Binance went to large investor wallets. The average number of daily active addresses in August rose to 35,700. However, no significant increase in new address creation was observed; an average of 2,260 new addresses were opened daily. The next support level in the technical outlook is at $0.87. In a bullish scenario, the first recovery levels are monitored at $1.46 and $1.57.

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