Whale investors across major cryptocurrencies—including Bitcoin, Ethereum, and XRP—are steadily increasing their holdings, according to research from CryptoQuant.

Julio Moreno, the firm's head of research, noted in CryptoQuant's weekly report that the largest holder cohorts for these assets have been adding to their positions while prices hover near or below their average acquisition cost.

"This positioning lowers downside pressure and is consistent with the final phase of the cycle's decline," Moreno wrote.

XRP: On-Chain Accumulation Signals

For XRP specifically, CryptoQuant reported that spot order sizes remain in "big whale" territory even as the token trades within a $1.00–$1.20 band, with a market capitalization of approximately $66 billion. The 90-day taker cumulative volume delta—a gauge of aggressive buying versus selling—has drifted to neutral.

The firm interprets the combination of large, discreet buy orders and roughly balanced buying and selling pressure as evidence of a calm accumulation phase. Investors are holding their positions rather than exiting, but they have not yet driven prices meaningfully higher.

XRP's realized price sits near $0.75, compared with a market price around $1.10—a gap that CryptoQuant characterizes as a late-bear-market zone. Realized price reflects the average cost basis across all coins on-chain, weighted by when they last moved; when market price trades modestly above this level, it suggests many holders are near break-even and have less incentive to sell at a loss.

The pattern echoes dynamics observed in Bitcoin. As Decrypt previously reported, Bitcoin's bear market has been unusually shallow, and analysts have debated whether the bottom is already in using reasoning similar to what CryptoQuant now applies to XRP. Whale accumulation during extended drawdowns has been a recurring feature across previous crypto market cycles, and on-chain analysts track these cohort shifts as one signal of how supply is transitioning between sellers and long-term holders.

XRP Price: What the Charts Say

XRP was trading at $1.05 on Binance at press time, down 1.4% on the day, consistent with earlier readings near $1.10.

The daily chart reinforces the on-chain picture: the market appears to be basing—flattening out—rather than breaking down further. The 50-day exponential moving average sits below the 200-day EMA, forming a pattern known as a death cross, a classic bearish indicator. XRP's current price trades below both moving averages. While a death cross is a lagging signal, it confirms that the prevailing trend remains downward.

Additional technical readings paint a similar picture of compressed, range-bound activity:

• RSI: 39.5, below the 50 midpoint that separates bullish from bearish momentum and approaching—but not yet reaching—the oversold threshold of 30.
• ADX: 10.4, indicating no strong trend is powering the current move.
• Squeeze Momentum: Negative, meaning volatility is compressed rather than expanding.

The overall trajectory reads as a late-stage bear basing coil—prices moving sideways for an extended period. XRP has declined from roughly $2.20 in early 2026 into a prolonged flat range near $1.

Both chart-based and on-chain data converge on the same conclusion: whales are absorbing supply rather than capitulating, and the structure resembles a bottoming range rather than a fresh leg lower.

Key Levels to Watch

The critical question remains direction. With XRP's price below a death cross and momentum still negative, there is no confirmation of a reversal. A daily close above the 200-day EMA, around $1.12, would constitute the first meaningful signal that accumulation is translating into upward price pressure.

Immediate support sits at $1.04—the current trading level and the lower boundary of the basing range. A clean break below that level could open the way to $0.9167, followed by $0.8358. On the upside, resistance begins at the $1.1145 Fibonacci mark, with a more significant ceiling at $1.60.