Recent on-chain data from the XRP Ledger, analyzed by CryptoQuant, indicates a significant shift in market structure, with large participants, or 'whales,' taking control. The data reveals a sustained increase in whale-sized spot orders, represented by green dots on the Spot Average Order Size chart, particularly as XRP's price trades in a range between roughly $1.80 and $2.20. This suggests higher-value participants are actively transacting during this period of price compression.
Further confirmation comes from the 90-day Spot Taker Cumulative Volume Delta (CVD) chart, which shows predominantly green bars, signaling taker buy dominance. This means market buys have consistently outweighed market sells over an extended period, reflecting sustained, aggressive demand even as price volatility cools. This pattern typically indicates that supply is being absorbed by larger entities rather than speculative chasing.
Concurrently, separate reports suggest unnamed XRP whales have been accumulating substantial holdings, potentially impacting exchange supply dynamics. While these reports claim exchange balances have dropped to lows not seen since 2023, they are noted as lacking verification from primary on-chain data sources. Historically, such whale accumulation phases have preceded upward price trends for XRP.
The combined data paints a picture of a structurally constructive environment. The alignment of increasing whale order sizes with positive long-term CVD suggests selling pressure is being met with strong market buying and accumulation is occurring beneath the surface. Analysts caution that while this does not guarantee an immediate price breakout, the market structure currently favors accumulation over distribution. If this buy-side dominance continues, price movement is considered more likely to resolve with strength.
