The well-known crypto analyst Ali Martinez pointed

The well-known crypto analyst Ali Martinez pointed out that whale wallets increased the selling pressure on XRP by offloading large amounts of the token.

According to AMBCrypto, wallets holding between 1 million and 1 billion XRP have reduced their total holdings from 10 billion to 8 billion tokens. This means that large players sold XRP worth approximately $6 billion.

In a CryptoQuant Insights post, user The Enigma Trader observed that the 90-day moving average of whale flows has turned sharply negative. This shift occurred in early 2025 and is a signal that whales have entered a distribution phase.

In May and June, the indicator was in positive territory, showing net inflows of over 5 million XRP into whale wallets. This suggested accumulation during the period when the price was consolidating between $2 and $2.4.

For XRP’s price to start recovering, this metric needs to show sustained positive net inflows. However, for now, market sentiment remains bearish.