Whales Buy 440 Million XRP Despite Market Selloff
Large-scale XRP holders have been on an aggressive buying spree this week, even as the broader market turned risk-averse and the token saw one of its steepest drops in months.
On-chain data from analyst Ali Martinez shows that whales — entities controlling tens of millions of XRP — snapped up roughly 120 million tokens on August 15 alone, coinciding with a sharp daily selloff.
That buying came as XRP’s market value fell by $10 billion in 24 hours, sliding from $193.85 billion to $182.85 billion. Over the past week, the token’s market cap has shed $15 billion from its August 8 high, with spot prices down nearly 8% to $3.08.
Despite the drawdown, XRP’s fully diluted valuation still sits at a lofty $308.31 billion, indicating that long-term expectations have yet to shift meaningfully. Trading volumes, however, have plunged more than 36% over the past day to $7.55 billion.
Martinez’s analysis also points to earlier buying activity, with whales accumulating around 320 million XRP in the three days leading up to August 15. This brings the week’s total to roughly 440 million XRP — worth about $3.8 billion — flowing into the hands of major holders in less than seven days.
Such concentrated accumulation phases have historically signaled medium-term reversals, especially when paired with declining exchange reserves and thinner liquidity on spot markets.
With the FDV-to-market cap ratio highlighting expectations of future adoption, sustained whale demand may be key in offsetting continued retail selling pressure and reigniting upward momentum.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
