XRP is showing a notable divergence between price and on-chain activity as large holders continue accumulating while the token trades near its weakest levels in nearly two years.
According to data cited by Santiment, XRP closed at approximately $1.00 on August 12, marking its lowest daily close since November 2024. The move leaves XRP roughly 69% below its January 2025 peak near $3.30.
Yet while price has weakened, whale activity has moved in the opposite direction.
Santiment data shows that large XRP holders accumulated approximately 72 million XRP in 24 hours, while their holdings have increased by more than 380 million XRP since August 7, according to figures cited in the market analysis.
That raises an important question for XRP holders: are large investors positioning for a recovery, or is the accumulation simply a response to lower prices?
XRP Whales Increase Holdings as Price Falls
The latest accumulation data provides an interesting contrast with XRP’s recent price performance.
Santiment reported that whale holdings increased from approximately 7.82 billion XRP to more than 8.13 billion XRP since August 7. That represents an increase of over 300 million XRP in the period, with separate reporting putting recent accumulation at more than 380 million tokens.
The exact accumulation figure can vary depending on the wallet-size category and measurement period being used, but the broader signal is clear: large XRP holders have been increasing their exposure while the token remains around the $1 level.
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This is important because whale accumulation can sometimes provide an early indication that larger market participants believe an asset has become attractive at lower valuations.
It does not, however, guarantee a price recovery.
Large holders can accumulate for different reasons, and on-chain movements do not reveal the intentions behind every transaction. XRP could therefore remain under pressure even while whale balances increase.
Still, the behavior is worth watching because it is occurring alongside increased network activity.
XRP Activity Rises, but New Users Are Not Following
Santiment’s data shows that XRP’s existing user base has become more active.
Average daily active addresses reportedly reached approximately 35,700 in August, compared with around 26,400 throughout July. That represents an increase of roughly one-third.
August 11 was also reportedly XRP’s busiest day for active addresses since June 5.
But there is an important distinction between rising activity and rising adoption.
New XRP addresses have remained almost unchanged. Santiment reported approximately 2,260 new addresses per day in August, compared with roughly 2,270 in July.
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That means the network is seeing more activity from existing participants rather than a significant influx of new users.
For investors, this distinction matters.
Higher activity can indicate that existing holders are moving, trading or otherwise interacting with XRP more frequently. But flat new-address growth suggests that the network is not currently experiencing a major expansion in its user base.
In other words, XRP activity is increasing, but adoption is not accelerating at the same pace.
Why $1.06 Could Matter for XRP
With XRP trading close to $1, market attention is now shifting toward the next important resistance level.
Analyst Ali Charts identified approximately $1.06 as a key resistance zone, with on-chain data indicating that nearly 3 billion XRP were transacted around that price.
That makes $1.06 an important level to watch if XRP attempts to recover.
A sustained move above the area could signal that buyers are gaining enough strength to absorb the supply positioned around that level. According to the analysis cited, a monthly close above $1.06 could potentially open the way toward $1.35.
But XRP first needs to reclaim $1 convincingly and establish support before a larger recovery becomes technically meaningful.
The current setup therefore presents two competing signals.
Price remains weak, but whale accumulation is increasing. Network activity is rising, but new-address growth remains flat.
That combination suggests that existing market participants are becoming more active at lower prices, rather than a broad new wave of XRP adoption.
For XRP holders, the whale accumulation is certainly worth watching. But the more convincing bullish signal would come from accumulation being followed by sustained buying pressure, stronger network growth, and a successful break above the $1.06 resistance zone.
Until then, XRP remains at an important crossroads: large holders appear willing to accumulate near $1, but the market still needs to prove that this buying can translate into a durable price recovery.
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