Whale activity on the XRP Ledger has dropped sharply, with the daily number of transactions worth more than $1 million falling from 70 during the past week to just two today.
The million-dollar transaction count has declined by roughly 97% from the recent peak, marking a sudden pullback in large-value movement across the network.
Santiment’s metric tracks transfers above the $1 million threshold. It does not separate purchases, sales, exchange deposits, custody movements or transfers between wallets controlled by the same holder.
The drop follows a period of heavier positioning by large XRP accounts. Wallets holding at least 10 million tokens reached an eight-year high in combined balances in May, when the cohort controlled 45.83 billion XRP.
Large balances have remained concentrated even as their transaction frequency slows. Wallet accumulation and whale-transfer counts measure different activity, leaving the latest decline as a sign of reduced movement rather than confirmed distribution.
XRP Slips Toward The Bottom Of Its Weekly Range
XRP traded near $1.07, down about 2.5% over 24 hours, with a daily range between $1.07 and $1.10.
The token has fallen roughly 6.5% over the past week and is trading at the bottom of its seven-day range, which extends to about $1.16. Market capitalization stood near $67.1 billion, while 24-hour trading volume remained below $800 million.
The retreat comes less than a month after XRP reclaimed $1.28 during a broader crypto rebound. That move failed to hold, returning the token toward the support area tested during late June.
Reduced whale transfers can accompany quieter trading after a volatile period, but the metric offers no clear direction for the next price move. A renewed increase would identify larger holders moving funds again, while the destination of those transfers would determine whether they reflect exchange inflows, accumulation or internal wallet management.
XRP Ledger Activity Returns To 2026 Lows
The whale slowdown has arrived alongside weaker broader participation on the XRP Ledger.
Daily active wallets recently fell to 25,350 addresses, the network’s second-lowest reading of 2026. New wallet creation dropped to 2,130, its weakest level since November 2024.
That reversal followed a late-June burst in which the network added 4,941 wallets in one day, the strongest daily increase in more than three months.
XRP now sits near the lower end of its weekly trading range with large transfers, active wallets and new-address creation all below their recent peaks.
