XRP, the native token of the payments-focused XRP Ledger, is trading close to the $1 mark after recording its weakest daily close since November 2024. Whale purchases and network activity have both increased during the decline, yet the token has yet to form a confirmed bottom, and traders continue to monitor lower support levels as the correction extends.

Whales Accumulate During the Decline

On-chain analyst Ali Martinez reported that whales bought more than 72 million XRP within 24 hours. The purchases followed a decline of roughly 69% from the January 2025 peak near $3.30. According to Martinez, the data points to accumulation, but it does not confirm a clear short-term market bottom.

In the last 24 hours, whales bought over 72 million $XRP . I wonder what they know that we don't… Are they preparing for a bull rally? pic.twitter.com/te6Q8JKB7U

— Ali Charts (@alicharts) August 13, 2026

Whale Holdings Grow as Market Capitalization Falls

Data from Santiment shows that the number of wallets holding at least 1 million XRP rose by 32 over the past three months, even as XRP's market capitalization declined by 29% over the same period.

Large holders purchased more than 380 million tokens during the week of Aug. 9, bringing their combined holdings above the 8 billion XRP mark. Based on the prices prevailing at the time, that position carried a value of roughly $8.2 billion.

CryptoQuant contributed an additional indicator of this accumulation pattern. Approximately 81% of the XRP transferred from Binance on Aug. 3 ended up in wallets labeled as large holders, while the equivalent figure for other centralized exchanges stood at 72%. Flows of this kind are tracked by on-chain analysts because tokens moved off exchanges into private wallets are no longer immediately available for sale on those venues.

Network usage also increased alongside the accumulation. According to Santiment, the average number of daily active addresses reached 35,700 in August, up from approximately 26,400 in July, with activity on Aug. 11 peaking at its highest level since June 5.

The creation of new addresses remained relatively stable throughout the period. On average, the blockchain network recorded around 2,260 new addresses per day in August, a figure similar to July's. The combination of rising active addresses and flat new-address creation indicates that the higher usage came from existing network participants rather than an influx of new users.

XRP Tests Major Technical Support Zones

Crypto trader Diana noted that XRP has been trading within a descending pattern that began at its high of $3.66. In her chart, XRP was positioned in the $1–$1.004 Fibonacci range, and the formation had yet to produce a reversal.

The next support level on the chart sits at $0.87. Below that lies a zone between $0.77 and $0.80, which forms the line of an ascending trendline. According to Diana, this area could mark the end of the larger correction.

🚨 $XRP 's MASSIVE Descent Is Nearing Its Final Zone — Is the Next Move a Run Back to ATH? 🤯📈 $XRP has been trapped in a brutal descending structure since the $3.66 peak — but this chart suggests the correction may be approaching its MOST important stage. 👀 The key is what… pic.twitter.com/sSfqIO6fPo

— Diana (@InvestWithD) August 13, 2026

These levels still represent a scenario on the technical chart rather than a confirmed outcome. The XRP price could test support and form a bottom before the scenario plays out, while any breakdown from these zones could spoil the potential reversal setup.

Under the bullish scenario, the initial recovery levels would be located at $1.46 and $1.57, with higher resistance found at $1.97 and $2.37. For buyers to regain control, the XRP price would need to overcome each of these levels.

XRP currently trades near the $1 psychological support level. Whale balances and network activity have both increased in recent months, while the number of new users on the network has shown little change. Price confirmation is still needed before the current correction can be described as a recovery, and subsequent readings of large-holder balances, exchange outflows, and address activity would show whether the accumulation pattern extends while the charted support zones are tested.