Foreign media reports that XRP recently fell to $1.06, a 24-hour drop of approximately 4.5%. Amid the price weakness, on-chain data showed a clear divergence: smaller holdings continued to exit, while larger holdings continued to accumulate. Market focus has therefore shifted to the buying power of whales and the progress of the US Congress's Clarity Act.
Small addresses continuously reducing positions
Santiment data shows that over the past five weeks, XRP held in small wallets has decreased by approximately 5.2% in total. This selling reflects more of a post-traumatic market weakness than a single negative trigger. With prices hovering around $1 for an extended period, some retail investors have chosen to reduce their positions, further divising market sentiment.
Whales have been increasing their holdings since mid-June.
Contrary to retail investors reducing their holdings, wallets holding between 100,000 and 100 million XRP are continuing to buy. Santiment stated that these addresses have accumulated approximately 600 million XRP since mid-June. During the same period, the price of XRP rose from around $1 at the end of June to over $1.16 in late July, before falling back to $1.06.
- Current price: $1.06
- 24-hour decline: 4.5%
- The whale's increase in holdings: approximately 600 million XRP.
The article mentions that this structure of "large investors adding positions while retail investors leave the market" has appeared before some rebounds in the past, and has therefore become one of the most watched on-chain signals when the market discusses the future trend of XRP.
The adoption of the bill and RLUSD becomes a point of observation.
Besides changes in on-chain holdings, regulatory progress is also considered a significant factor influencing the behavior of large investors. The report mentions that the CLARITY bill is still progressing in the US Congress. Ripple CEO Brad Garlinghouse stated that the bill should be expedited for passage.
The article also mentions that the adoption of RLUSD is one of the market's focal points. If there are new developments in regulation and product adoption, the current divergence in holdings may widen further; if progress continues to slow, short-term volatility in XRP may persist.
