XRP whales have distributed over 30 million tokens during a five-day stretch, according to data shared by crypto analyst Ali Martinez from Santiment. Wallets holding at least 1 million XRP cut their combined balance from 3.82 billion to 3.77 billion. The selling coincided with XRP’s retreat from a local peak near $1.29 on June 16, after a rally from around $1.14 that started June 14. By June 19, the price had fallen to approximately $1.127, erasing most of the mid-June gains.
The whale activity was matched by accelerated long liquidations in derivatives markets, adding downside pressure. Additionally, the latest Federal Reserve meeting tempered expectations for near-term interest-rate cuts, weighing on risk assets.
Despite the sell-off, U.S. spot XRP ETFs recorded net inflows of about $5.30 million on June 16 and another $2.55 million on June 18, signaling that institutional investors remained buyers even as the token declined. This contrast between whale distribution and institutional accumulation highlights diverging market strategies.
Looking forward, the two-month RSI for XRP hovers near the 50 level, a point that analyst EGRAG CRYPTO sees as pivotal for momentum. A hold above could signal buyer strength, while a breakdown might open room for further losses. Upcoming events like Ripple’s Swell conference, now combined with the Apex gathering in New York, add another layer of anticipation for market participants.
