A newly activated wallet scooped up 120 million XRP within an hour as the token dropped to $1.72, its lowest price since April 2025.
A massive XRP whale made waves on January 31 by accumulating 120 million tokens worth $206 million in just one hour, even as the asset tumbled to a nine-month low.
On-chain data reveals that a newly activated wallet, dormant for about a month, executed two large transactions of 60 million XRP each on January 30. The accumulation occurred via a routing address, completing the entire operation within an hour. The whale now holds 185 million XRP in total, including an additional 35 million tokens acquired separately.
This buying spree came as XRP slid to $1.72, representing a 10% decline since January 29 and its lowest price in nine months, excluding the October 2025 flash crash. The broader crypto market also struggled, with Bitcoin falling to its 2026 low near $81,000 following news of Kevin Warsh's Federal Reserve nomination.
Whale accumulation during price dips often signals long-term confidence. According to Santiment data, wallets holding between 1 million and 100 million XRP have added 380 million tokens worth $710 million throughout January 2026, growing their cumulative balance from 14.54 billion to 14.92 billion XRP.
Meanwhile, the Bitwise XRP ETF has emerged as the second-largest XRP fund in the U.S., with net assets nearing $300 million and cumulative inflows of $338 million. Bitwise CIO Matt Hougan recently stated that regulatory clarity has lifted the "shackles" that previously limited XRP's institutional adoption.
XRP faces a critical technical test after breaking below the $1.80-$1.90 support zone. Analyst CasiTrades targets $1.65 as the next level if selling pressure continues. However, sustained whale accumulation and growing ETF interest could provide a floor. The U.S. spot XRP ETF market has now recorded $1.18 billion in combined inflows.
This is a developing story as whale activity continues to diverge from retail sentiment during the current market correction.
XRP surpasses BNB in market cap as ETF inflows hit $1.18B cumulative total and exchange supply drops to 8-year low.
Bitcoin, Ethereum, and XRP investment products saw $1.73 billion in withdrawals last week, marking the largest exodus since mid-November 2025.
XRP balances on centralized exchanges have declined sharply according to Glassnode data, as U.S. spot ETFs continue absorbing supply with over $1 billion in inflows.
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