- XRP whales accumulate 340 million tokens despite price volatility.
- Liquidations worth $716,000 push XRP down in market ranking.
- Trading volume surges 87 percent as XRP rebounds from dip.
XRP slipped to the fourth position in market rankings today after facing significant market pressure despite strong signs of whale accumulation. The token’s market cap dropped to $167.78 billion, marking a 0.65 percent daily decline and contributing to the shift in its placement.
On-chain data revealed that XRP traded at $2.82, down 0.69 percent in the past 24 hours. The price briefly dipped toward $2.70 before bouncing back above $2.80, with trading volume soaring 87 percent to $6.05 billion.
Also Read: Crypto War: Litecoin Takes Heavy Jab at XRP, Calls it ‘Urine’ – Here’s What’s Trending
Whale Accumulation Intensifies
According to crypto analyst Ali, whales with holdings between 10 million and 100 million XRP coins bought 340 million tokens in the past two weeks. Their combined balance now stands at approximately 7.84 billion coins.
Santiment’s data further confirmed this accumulation trend, showing that major wallets steadily increased holdings even as XRP’s price declined. This wave of whale purchases highlights long-term conviction in XRP, contrasting the short-term losses that pushed the asset down in rankings.
Liquidations and Market Pressure
Despite the strong accumulation, XRP faced pressure from derivatives markets. Liquidation heatmaps recorded $716,000 in liquidations, with nearly all of them coming from short positions. This sudden move forced traders to unwind positions, adding to price instability.
Source: Coinglass
The result was a direct decline in XRP’s market cap, which dropped below key thresholds, allowing the USDT stablecoin to surpass it in ranking. This market reaction explains the token’s fall to fourth place despite positive accumulation trends.
Price Movement and Trading Activity
XRP’s intraday chart reflected high volatility, with sharp declines followed by partial recoveries. The token’s rebound above $2.80 came after hitting near $2.70 earlier in the session.
Trading activity showed strong participation, as evidenced by the jump in daily volume to $6.05 billion. However, higher turnover could not offset the negative market cap impact from liquidations.
Source: CoinMarketCap
XRP’s slip to fourth in market rankings was driven by short-term volatility and liquidations that cut into its market cap. Nevertheless, whale accumulation of 340 million tokens in two weeks signals growing long-term confidence in the asset’s outlook.
Also Read: 340,000,000 XRP in Two Weeks as Price Prepares for Breakout
