Whales Have Accumulated $1.8B Worth of XRP, Despite the Cryptocurrency's Lackluster 2025 Performance

Major investors have been taking advantage of XRP’s April recovery and early May downtrend to buy, according to the data Finbold retrieved from Glassnode on Wednesday.

In total, whales have accumulated $1.8 billion worth of the token-nearly 1 billion XRP at the press time price of $2.14-at the press time prices-in the last 30 days, leading some traders to question whether part of the buying constitutes insider activity.

The cryptocurrency’s performance in 2023 has generally been lackluster. It is just 1.17% up year-to-date (YTD) but 35.71% below its $3.31 highs from January.

Similarly, the latest market activity does not offer much confidence that the overall trend will change, as the token proved unable to maintain its upward momentum in late April and rejected the $2.29 level twice within a week.

XRP open interest collapses despite whale buying pressure

Additionally, as Finbold reported earlier on May 7, XRP’s open interest has collapsed from its recent high of 1.52 billion to 1.37 billion, indicating a significant drop in speculative betting, despite the substantial whale buying activity through April and in the first week of the current month.

Nonetheless, the accumulation stands in stark contrast with the previous trend and signals, at the very least, confidence that the token can remain stable before rebounding. The first two weeks of April were especially noteworthy in terms of major holders selling as whales offloaded 370 million XRP within the time frame, as Finbold reported on the sixteenth day of the month.

Examining the token’s price, there is some indication that the buying has been timely as the cryptocurrency broke the prevailing downtrend on May 6 and has been advancing, albeit with some indication that the uptrend will not last.

In total, XRP has been up 11.48% in the last 30 days, down 0.52% in the last 5 days, and 2.8% above the latest lows. However, once again, it is 1.38% in the red since midnight at its press time price of $2.14.