XRP fell toward $1.28 on Sept. 16 as selling intensified in the wake of a failed U.S. Senate vote on the CLARITY Act, but underlying market data remained resilient: millionaire XRP wallets had grown 4.2% in a single day ahead of the token's August rally, the XRP Binance Liquidity Index reached a six-month high, and U.S. spot XRP ETFs have drawn roughly $1.71 billion in cumulative inflows.

The token lost roughly 9%-10% over the latest 24-hour period after trading above $1.42 a day earlier. Trading volume also rose during the decline, showing heavier market participation as sellers took control.

The weakness came despite signs that larger holders had built positions ahead of XRP's August rally — and while ETF flows and exchange liquidity held firm through the latest price drop.

Millionaire Wallets Rose Before August Rally

Data from Santiment shows that the XRP Ledger added 85 addresses holding at least 1 million XRP within a single day. That increase lifted the number of so-called millionaire wallets by 4.2% just two days before XRP began a 67% rally that ran between Aug. 17 and Aug. 21.

The timing ties the wallet growth to a stretch of rapid accumulation by larger holders. Addresses carrying more than 1 million XRP can move more liquidity than smaller accounts and can absorb a greater share of circulating supply.iment's chart also shows those wallets holding near elevated levels since the August increase, even as XRP later gave back part of its rally.

That sequence does not prove the wallets caused the rally, but it documents accumulation ahead of the sharp price move. Tracking wallets of this size has become a staple of crypto market analysis, with shifts in large-holder supply read alongside price, volume, and fund-flow data to gauge how bigger participants are positioned.

Price Decline Comes With Rising Trading Activity

XRP now trades near $1.28 after dropping more than 11% in 24 hours, according to market data. The token's market capitalization stands at about $80.56 billion, while 24-hour trading volume has climbed roughly 42% to $6.49 billion — a combination showing that activity accelerated during the selloff.

Higher volume during a sharp decline does not determine the next direction, but it shows that more tokens changed hands as the price moved lower. XRP now trades well below the range it reached during its August surge, drawing attention to whether buyers return around the current zone.

Exchange Liquidity and ETF Demand Stay Firm

Separate market data points to stronger XRP trading liquidity on Binance, one of the world's largest crypto exchanges by trading volume. CryptoQuant data places the XRP Binance Liquidity Index at 0.0675, its highest reading in six months. The 30-day liquidity turnover has climbed to about $4.6 billion after spending July and August in the $2 billion to $3 billion range. Deeper liquidity on a major venue makes it easier to execute large orders without materially moving the market, which is why exchange-level depth is watched alongside fund flows.

U.S.-listed spot XRP ETFs recorded about $12 million in net inflows on Monday, before the latest price decline, according to SoSoValue. The inflows pushed cumulative flows to roughly $1.71 billion, while net assets reached about $1.58 billion. Spot ETFs hold the underlying token directly and trade on U.S. exchanges, giving investors exposure to XRP through standard brokerage accounts, and their daily flow reports have become a widely followed gauge of demand for regulated XRP products.

The sharp drop has altered XRP's short-term technical position. The price now sits near the closely watched $1.26 zone tied to the 100-day exponential moving average. Any recovery would first require XRP to reclaim nearby levels lost during the decline before it can revisit the August range.

The selloff followed the U.S. Senate's failure to advance the CLARITY Act on Sept. 15. The procedural vote fell short of the 60 votes required to move the crypto market structure bill forward, leaving the legislation stalled in the Senate. Market structure legislation of this kind is intended to settle how digital asset trading is regulated in the United States — a question that remains open for much of the industry. With the bill stalled, its progress in Congress now sits alongside ETF flow reports and exchange liquidity readings among the data points XRP market participants are monitoring in the sessions ahead.

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments involve risk, and on-chain or ETF data do not guarantee future price performance. Readers should conduct their own research before making investment decisions.

Source: The Market Periodical