Ripple (XRP) Whales Step Up as Taker Demand Flips Bullish

Ripple (XRP) traded in a choppy range over the past week. It started near $2.06 before slipping lower and then briefly climbing above $2.15 around December 10. The token underwent a minor drawdown the very next day before stabilizing and is currently trading at $2.04.

Despite the pullback, a new analysis revealed that whales appear to be snapping up Ripple tokens.

Massive Whale Moves

XRP is seeing increased activity from large holders even as the token trades near its lowest level of the year, according to on-chain data firm CryptoQuant. The firm said whale accounts continue to dominate XRP trading during the recent price decline, a pattern it associates with bottoming phases.

CryptoQuant explained that whales tend to accumulate before potential recoveries rather than during uptrends. It added that XRP’s Spot Taker Cumulative Volume Delta has turned buyer-dominant in recent sessions, which indicates rising purchasing interest.

Additionally, XRP is showing signs of major activity on South Korean exchanges, where the token has long held a strong trading presence. Upbit, which happens to be one of the largest holders and busiest markets for XRP, is seeing its first meaningful increase in XRP withdrawals since 2023. The uptick comes as the asset recently posted a short-term price decline, and outflows from Upbit have begun to form a broader trend.

While small withdrawals still dominate, CryptoQuant said the pattern points to an emerging shift in the crypto asset’s market behaviour.

Targets For XRP

Crypto analyst CasiTrades said XRP continues to defend its macro 0.5 Fibonacci support near $2.03, with the token undergoing another critical test of that level. As long as $1.97 holds, a deeper retracement is not confirmed. According to her analysis, the macro resistance remains at $2.41, which, if broken, could trigger a bullish scenario with targets near $2.75 and $2.90.

On the other hand, if the $1.97 support fails, the crypto asset could move toward $1.64.

Developments like Hex Trust’s launch of wXRP could support XRP’s price by expanding its accessibility across multiple blockchains, including Ethereum, Solana, and Optimism. By enabling cross-chain trading, DeFi participation, and integration with Ripple’s stablecoin RLUSD, wXRP may attract more retail, institutional, and liquidity provider activity.

The initial $100 million in total value locked could help stabilize pricing and reduce slippage, while the regulated, insured custody framework adds confidence for large investors. Increased utility, easier cross-chain transfers, and improved market infrastructure could collectively boost demand for XRP, and potentially end up supporting upward price momentum over time.

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