XRP Whales Hit ATH as Price Slips to $2.17

Key Points:

• XRP wallets holding over 1 million coins reached a new all-time high of 2,850.
• RSI at 43.88 and AO near zero reflect weak momentum and lack of trend direction.
• John Deaton challenges claims of XRP centralization, citing global user distribution and legal support.

XRP price was trading at $2.17 at press time, showing a 1.3% decrease in the last 24 hours. The 24-hour trading volume fell 13.5% to $2.22 billion. Over the past 7 days, XRP gained 0.6%, with its total market capitalization now at $127.78 billion.

A drop in trading volume often points to reduced interest or demand from traders. Despite minor price changes, market signals suggest that the asset is seeing cautious momentum. Price movement continues to hold within a defined range, suggesting ongoing consolidation.

Indicators Signal Weak Momentum with Mixed Outlook

The Relative Strength Index (RSI) currently stands at 43.88. This reading is below the neutral 50 level, pointing to slightly bearish momentum. Currently, RSI shows a small rebound from recent lows. This suggests a possible short-term pause in selling, though not yet a strong recovery signal.

Meanwhile, the Awesome Oscillator (AO) is showing a mildly positive reading of 0.06753. The indicator fluctuates near the zero line, which points to the absence of a clear trend. While positive bars signal short-term upward moves, the size and consistency of the histogram do not support a strong bullish case. AO readings have shown that both upward and downward moves tend to be short-lived.

Whale Wallets Reach New Highs Despite Sideways Market

Wallet data from Dom shows growth in XRP holdings among larger wallets. The number of wallets holding over 1 million XRP recently hit an all-time high of 2,850. Wallets with more than 10,000 XRP have also grown by about 6.2% year-to-date, now totaling around 306,000.

“Despite sideways price action for 6 months, people are still accumulating,” Dom noted. 

This trend reflects steady interest from larger holders, even as price movements remain limited.

Some traders have also raised questions about XRP leaving exchanges. In response, Dom clarified: 

“Coins leaving exchanges DO NOT translate to ‘purchases’… Those platforms showing you that data are often wrong.” 

He added that actual buy and sell transactions can only be confirmed through tick trade data and order books.

Decentralization Debate Reignites Around XRP Holdings

John Deaton, an attorney known for his role in the SEC vs. Ripple case, addressed claims about the token’s decentralization. He responded to concerns about Ripple holding 40% of the XRP supply, saying it doesn’t automatically mean centralization.

“It is not fair to judge decentralization by how much of a token one entity holds,” Deaton said. 

He emphasized global usage, pointing out that over 75,000 holders from 140 countries supported his amicus motion against the SEC.