Major XRP Holders Accumulate Amid Retail Sell-Off

A significant divergence in investor behavior is unfolding in the XRP market. As smaller investors liquidate their holdings, the largest addresses on the network are engaging in substantial accumulation. On-chain analytics reveal that so-called "whale" wallets purchased approximately 230 million XRP, valued at around $330 million, over a recent 48-hour period. This aggressive buying occurred precisely as the asset's price experienced a notable decline.

Despite the downward price pressure, regulated XRP exchange-traded funds (ETFs) in the United States have demonstrated resilience. On February 9, these funds collectively saw net inflows totaling $6.31 million. Leading this demand were products including the Franklin XRP ETF and the Canary XRP ETF. This sustained institutional interest persists even though XRP trades well below its July peak near $3.40. The market structure suggests professional investors view the current range between $1.40 and $1.50 as a strategic accumulation zone, a sentiment bolstered by the regulatory clarity established after the SEC settlement in August 2025.

Should investors sell immediately? Or is it worth buying XRP?

Retail Sentiment Points to Capitulation

The anxiety among private investors is quantifiable through the Spent Output Profit Ratio (SOPR). This indicator has recently fallen below the critical 1.0 threshold, signaling that the average wallet selling XRP is doing so at a loss. Historically, an SOPR reading under 1.0 often marks capitulation phases, where short-term oriented traders offload their positions to long-term holders. The contrast is stark: retail participants are throwing in the towel at prices around $1.40, while institutional players and major whales are leveraging this perceived weakness to build their stakes.

The $1.30 Level Emerges as Critical Support

Market attention is now firmly fixed on the key support level at $1.30. If this price floor holds, the current redistribution of assets from retail to institutional buyers could pave the way for market stabilization. Conversely, a decisive break below this mark would likely trigger further liquidations of leveraged positions, potentially intensifying the downward momentum. The coming trading sessions will prove decisive, indicating whether the massive accumulation by major holders is sufficient to reverse the trend or if selling pressure from smaller investors will continue to dictate price action in the near term.