It was less than ten days ago that the popular cross-border token XRP challenged the $1.55 resistance level. However, the subsequent rejection was swift and significant.
The past 24 hours have exacerbated the retracement. While the broader market is down today, with Bitcoin (BTC) falling to $75,000 for the first time in three weeks, XRP’s decline has been more pronounced.
Currently trading at $1.33, XRP has experienced a 14% drop from its recent peak, according to the 10-day chart. Furthermore, XRP has reached its lowest price since April 13, marking a six-week low. Its market capitalization has decreased to approximately $82 billion, widening the gap with Binance Coin (BNB) to over $5 billion as of the time of this report.
Whale Activity Declines
Of greater concern is the decrease in whale activity on the XRP network. According to analyst Ali Martinez, large transactions exceeding $1 million have fallen from 157 a few months ago to 67 today, a 57.3% decrease. This suggests that the underlying asset could be entering a “compression phase.”
Whales appear to have reduced their activity, allowing “the current price range to settle, which naturally reduces immediate volatility and allows the order books to mature.”
Mixed Signals
On a more positive note, XRP saw a surge of 4,300 new wallet creations in a single day earlier this week, the fourth-largest spike in network activity in 2026. According to Santiment, such network growth is a strong indicator of potential market reversals.
Bearish Outlook
Analyzing XRP’s recent price movements, analyst CRYPTOWZRD warned of a bearish close for the token, predicting further declines, particularly if BTC continues to fall.
CRYPTOWZRD also noted an “increasing trend in short positions” for XRP and cautioned that there are “no reversal signals in the futures market yet.” In a separate post, the analyst suggested that the cross-border altcoin could fall further to $1.30.
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