XRP Holds at $2.17 as Volume Tanks 33% in 24 Hours

Key Points:

• XRP whale wallets hit 2,700 as daily active addresses surge to nearly 295,000 post-ETF.
• XRP trades within bullish wedge pattern, holding firm above key $2.150 Fibonacci support zone.
• Derivatives data shows rising options activity despite a sharp drop in open contracts and volume.

XRP price is steady at $2.17 at press time, showing little change over the past 24 hours. The 7-day performance remains positive with a 1.73% gain. However, daily trade volume dropped by 33% to $1.70 billion. This combination of low volatility and falling volume often signals a consolidation phase or a pause ahead of new developments.

XRP’s total market cap stands at approximately $127.2 billion. Despite the volume decline, XRP remains one of the most actively traded digital assets. Traders may be positioning cautiously ahead of broader market signals.

XRP Price Pattern Forms Bullish Technical Setup

XRP continues to trade within a descending wedge pattern, a setup often seen before upward moves. A recent move from $2.151 to $2.158 came with high volume before price retested the $2.150 level. This confirms that the area is acting as key support.

Source: X

With buyers holding support and volatility compressing, the current structure points to potential price action in either direction, with a breakout being closely watched by traders.

XRP Ledger Activity and Whale Holdings Increase

According to Fabio Zuccara, activity on the XRPL spiked after the ETF announcement. Daily active addresses surged to nearly 295,000 from an average of 40,000. This increase reflects growing interest among users and developers.

Whale wallets, defined as those holding over 1 million XRP, also reached a record count of 2,700. Each wallet now controls at least $2.25 million in the token. This marks a rising level of institutional and high-net-worth accumulation.

Source: X

Meanwhile, XRP derivatives data shows a 37.50% drop in trading volume to $2.93 billion, per Coinglass data. Open interest remains stable at $3.93 billion, posting a slight gain of 0.05%. Options volume rose by 35.37% to $1.18K, suggesting increased hedging or speculative activity.

However, open interest in options dropped sharply by 81.47%, now sitting at $113.31K. This signals a reduction in active contracts, possibly from recent expirations or traders closing positions.