NEW YORK, July 13, 2026, 09:09 (EDT)
XRP slipped to about $1.06 on Monday after transfers worth more than $1 million fell to two from 70 in a week and U.S. spot exchange-traded funds — stock-market funds designed to track XRP — recorded a $7.18 million weekly outflow. The 97% drop in large-holder activity weakens a bullish case built largely on whale accumulation.
The split is more important than the headline price. Wallet balances are a stock of coins, while transactions, fund subscriptions and open interest — the value of futures contracts still outstanding — measure whether fresh money is entering. XRP can hold $1 because large owners are not selling, even as the marginal bid fades.
Crypto was trading continuously, while regular U.S. equity and ETF trading had not opened at the dateline; the New York Stock Exchange’s core session begins at 9:30 a.m. Bitcoin was near $62,600, down about 2.2% from its previous close, as renewed U.S.-Iran attacks lifted oil prices and weighed on risk assets.
“Whale activity on the XRP Ledger has cooled significantly,” crypto analyst Ali Martinez said, citing Santiment data. Analyst Grega Horvat put near-term support at $1 and $0.95 and warned that the “trend is down until it is not.” crypto.news
| Demand gauge | Latest reading | Investor signal |
|---|---|---|
| Transfers above $1 million | 2 on July 13, from 70 a week earlier | Large-order activity down about 97% |
| Network breadth | About 25,000 active addresses; 2,130 new wallets | Active addresses near a 2026 low; wallet creation lowest since November 2024 |
| Binance XRP futures | $399 million outstanding, down about $100 million from mid-June | Positions fell about 20%; funding rose 266% to 0.007 and long liquidations increased 94% |
| U.S. spot XRP ETFs | $7.18 million net outflow, July 6-10 | Bitwise lost $7.29 million, partly offset by about $0.11 million into 21Shares |
The drop in open interest removes some fuel for a forced-liquidation chain. But positive funding — the periodic payment between bullish and bearish futures traders — means those betting on a rise were still paying the other side. Positions were being unwound faster than new leveraged money arrived.
Fund holdings also put the institutional demand story in perspective. An XRP Insights tracker estimated that seven U.S. spot products held 964.5 million XRP, or about 1.5% of the 62.47 billion tokens in circulation. Their roughly $10 million of daily turnover equalled only about 1% of XRP’s near-$1 billion, 24-hour token volume.
XRP’s weekly performance shows the pressure was not just a Bitcoin move:
| Asset | Approximate seven-day move | Gap versus XRP |
|---|---|---|
| Bitcoin | -0.3% | +5.2 percentage points |
| Ether | +0.1% | +5.6 percentage points |
| XRP | -5.5% | — |
| Solana | -5.9% | -0.4 percentage point |
XRP trailed Bitcoin and Ether by more than five percentage points, though it moved broadly in line with Solana, another volatile large-cap token. That suggests an XRP-specific loss of demand has been layered onto Monday’s wider risk-off trade.
The reversal was quick. On July 2, daily new wallets reached 4,941, a three-month high, and spot ETFs drew $15.34 million; the latest new-wallet reading was about 57% lower, while the weekly fund tally had turned negative. Address counts are not the same as users — one entity can control several wallets — but the simultaneous turn in ledger, fund and derivatives data is harder to dismiss.
But thin flows can cut both ways. A restart in ETF buying or wallet creation could lift XRP sharply if large holders keep supply off the market; continued redemptions, positive funding and weak network growth would instead make the $1 floor brittle. The linked technical analysis put $0.80 in view if the descending price channel breaks and said XRP would need to reclaim roughly $1.40 to $1.60 to reverse the trend.
The next confirmation is straightforward: ETF inflows, active addresses and outstanding futures positions need to rise together without another jump in funding. Until then, whale accumulation is a balance-sheet fact, not proof that fresh demand has returned.
