Whales Scoop Up $630 Million Worth of XRP: Can the Rally Continue?

Jakarta, Pintu News – On September 8, the price of XRP (XRP) was around Rp 2.88, up about 2%. However, in the last four weeks, the movement of XRP has been quite heavy as it has corrected more than 12.5%. Even so, the trend in the last three months still shows an increase of around 26%.

The latest on-chain data indicates that this period of weakness may be coming to an end. Some big buyers have started to step in first, but selling from other holders is still holding back a cleaner breakout.

Whale Crypto Jumps in with $630 Million XRP Purchase

The clearest bullish signal came from crypto whale activity. On September 3, when XRP was trading above $2.85, two large groups of asset holders started adding to holdings. The first group contained wallets with a minimum of 1 billion XRP, while the second group held between 10 million to 100 million XRP.

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Since that date, the balances of these two groups have increased: from 23.86 billion to 23.93 billion XRP, and from 7.61 billion to 7.76 billion XRP. At current prices, these additions equate to approximately $630 million in new assets.

This massive buying was the main impetus that helped XRP break through the $2.85 area, a level that was previously a barrier to price increases. It is this demand from whales that is likely to be the main factor driving the price of XRP back up – like a “big hand” pulling the price upwards by adding holdings at that level.

Profit-Taking Still Holding Back XRP Breakout

While crypto whales are making massive purchases, many other holders are choosing to sell to secure profits. There are two main indicators that show this:

Percentage of Profitable Supply: On September 1, about 85.6% of all XRP holders were in a profitable position. This figure rose to around 93.4% on September 7. The more profitable, the greater the temptation to sell.

HODL Waves: This indicator categorizes coins based on how long they have been held (short, medium, long term). If a group shrinks, it means they have sold. 3-6 month holders dropped from around 9.05% to 6.12%.

Meanwhile, 1-week-1-month holders slumped from 7.68% to just 2.61%. This shows that many short- to medium-term holders offloaded the coins when the price rose.

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In other words, crypto whales added to large holdings and pushed the price of XRP up, but sell-offs from smaller holders kept the rally on hold. This is the reason why the price rise hasn’t looked too aggressive.

XRP Price Levels and Bearish Pattern Breakout

As of September 8, the price of XRP is hovering around $2.88, holding above the important support area of $2.85. The next resistance levels are at $2.94 and $3.10, while a net move past $3.35 could potentially turn the price structure completely bullish.

The main change is seen in the chart patterns. Over the past few weeks, XRP moved in a descending triangle formation, a bearish pattern where sellers pressured the price near flat support. This pattern briefly risked triggering a drop below $2.69, but instead of a breakdown, XRP brokeout to the upside, removing the threat of the bearish pattern.

While it can’t be called fully bullish yet, it signals that the risk of a sharp decline is now reduced. As long as XRP is able to stay above $2.85 and $2.69, the upward trend of the past three months is maintained.

If profit-taking starts to subside, the buying impulse from whales could pave the way for further gains.

However, if the whale buying flow weakens while the sell-off intensifies, then the key support at $2.69 could potentially be threatened again. A net decline below this level could invalidate the short-term bullish signal.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. XRP Price: Whales Buy, Risk Remains. Accessed on September 9, 2025