XRP Whale Prints Collapse 97% to Just 2 as $1.08 Support Gets Tested
Santiment data shows $1M+ XRP transfers cratered from 70 to two in a week, coinciding with July gains being wiped from 14% to 3.5%.
On-chain transfers worth more than $1 million on the XRP Ledger fell from roughly 70 over the past week to just two on July 12 — a collapse of about 97% flagged by analyst Ali Martinez using Santiment data. The drop lands as XRP trades near $1.08 and struggles to defend a support band that has held for over a month.
From 60 prints a day to two
The Santiment chart shared by Martinez shows the decline was gradual before it wasn’t. Large-value transfers held near 60 at the start of the week, eased to roughly 55 and 50 on subsequent days, then broke below 40. The steepest leg came in the final 48 hours, when counts fell from about 15 prints to just two, according to figures reported by both Finbold and The Crypto Basic.
This is not the first time whale flow has thinned out this cycle. A comparable pattern surfaced in May, when transactions above $1 million dropped from 157 to 67 over nine days — a stretch that also lined up with price consolidation and compressed volatility, per Finbold’s reporting.
Price action: gains nearly erased
XRP was last changing hands near $1.08, down roughly 1% on the day and more than 5% on the week. The Crypto Basic notes the pullback has stripped most of the token’s monthly performance, with July gains sliding from a 14% intra-month high to just 3.5%.
The token remains beneath a descending trendline that has capped price since the $1.55 swing high on May 14, with immediate resistance near $1.11 where that trendline intersects horizontal supply, according to chart work from analyst Cryptoinsightuk cited by The Crypto Basic.
Levels that matter for positioning
On the upside, Finbold’s technical read points to $1.18–$1.20 as the resistance zone that needs to break for buyers to regain control, opening a path toward $1.29–$1.37 with extension potential to $1.50–$1.65.
Downside risk centers on the $1.00–$1.06 accumulation band. A decisive break exposes $0.90–$0.98, with a deeper tail toward $0.80–$0.85. Cryptoinsightuk’s separate model flags a similar demand zone at $0.90–$0.94 — implying a 12.6%–16% drop from current levels — as the region where buyers could step in before a larger recovery attempt, a scenario he frames as a “drop, base, breakout” setup.
XRP has defended the $1 level for more than a month, with each retest so far producing a bounce. Reduced whale participation does not automatically imply distribution, but it does thin the liquidity that typically drives breakouts — leaving the token’s next directional move dependent on either a return of large-holder activity or broader market flow.
Read more: XRP Flow Data: $7.29M ETF Outflow Ends 9-Week Streak, OI Sinks to 397M-Token Low