Large XRP holders quietly accelerated purchases this week, scooping up roughly 120 million tokens in the space of three days, according to crypto analyst Ali Martinez. “120 million $XRP bought by whales in the last 72 hours!” Martinez wrote on X, attaching an on-chain accumulation chart that quickly spread through crypto feeds.
The buying spree has come as XRP trades just under the $3 mark after a recent pullback. Market data shows XRP changing hands around $2.85–$2.90 in the latest sessions, with intraday swings and elevated volumes as traders digest the whale activity and broader market flows. Recent daily candles have carved a range roughly between $2.70 on the lows and about $3.00 on the highs over the last fortnight, emphasizing how the $3 level remains a psychological ceiling for now.
The whale accumulation seems to be a sign that some “smart money” is treating the recent dip as a buying opportunity. The purchases coincided with thinner exchange reserves for XRP and tightening liquidity in certain spot order books, conditions that can amplify price moves if demand continues. Traders watching the order flow said the timing is notable: whale buys during a consolidation can presage a sharper rally if retail demand follows.
The backdrop for this move includes several market catalysts that have put XRP back under institutional and retail scrutiny this month. September saw renewed product and regulatory momentum around XRP, including the debut of U.S. spot products tied to the token and fresh approvals that have nudged institutional interest higher. That wave of positive headlines has been a partial explanation traders give for why large holders might be loading up ahead of any follow-through move. At the same time, macro factors that have pressured risk assets, from central bank policy shifts to geopolitical developments, still inject volatility into any crypto rally.
What’s Happening
Putting the whale purchases into dollar terms makes the activity feel even larger. At current prices, 120 million XRP equates to roughly $340–$360 million, depending on which minute’s price you use, a meaningful allocation for any single cohort of large wallets and one that could influence short-term liquidity if those tokens are held off exchanges. Analysts cautioned, however, that headline whale buys don’t always translate to immediate price appreciation: the market can absorb large buys quietly for days or unwind them just as quickly if macro sentiment shifts.
Technically, traders noted that the most immediate supports to watch are near recent swing lows around the high $2 range, while resistance clusters at and just above $3.00. Should whales continue to accumulate and exchange reserves keep easing, a move back above $3.20–$3.30 could attract fresh buying and open the door to higher extensions; conversely, a larger market selloff would likely pull XRP back toward the lower end of its short-term range. Market veterans reminded readers that stop runs and leverage liquidations can still create quick, sharp moves in either direction, so positioning and risk management remain essential.
For now, the story is straightforward: large holders are buying, and they are doing so in size. Whether that accumulation has already been priced in for the next leg up or is simply one piece of a broader, volatile market puzzle will play out over the coming days. Traders watching XRP will be monitoring on-chain flows, exchange reserve changes, and how traditional markets behave around major macro events. These factors could decide whether these whale purchases are the start of a sustained bid or a short-term accumulation before another round of profit-taking.
