XRP investors are grappling with their largest unrealized losses since the 2022 FTX collapse, with average wallets down over 41% on investments made in the past year. This severe market drawdown, measured by the Mean Value to Realized Value (MVRV) ratio, has prompted major holders to withhold deposits to exchanges while awaiting a more favorable market environment. Despite prolonged sideways trading and a current price around $1.31, XRP remains a closely watched asset for potential accumulation, retaining one of the cryptocurrency sector's most significant market shares.
XRP whales have slowed down their activity, contrary to their usual pattern of sending funds to exchanges during price rallies. In April, whale activity on Binance sank to its lowest levels for the year to date.
On the positive side, Binance only has to absorb 12.6M XRP in selling pressure, while other days saw hundreds of millions of XRP deposits.
In the past 30 days, cumulative inflows fell to 1.44B XRP, one of the lowest monthly levels for 2026. The decline in whale inflows shows a readiness to hold for the longer term, in this case, despite ongoing uncertainty and a weak altcoin market.
The Ripple community often remains untouched by general market trends, expecting positive developments from Ripple’s products.
Retail holders of XRP are also often willing to hold. Whales often use strategic selling to lock in gains. Most of the XRP whales are early adopters with legacy reserves, while retail has often bought XRP near the peak. Currently, there are a few factors to revive XRP, especially in a stagnant crypto market.
Ripple still focuses on its ability to generate P2P payments. In the past quarter, RLUSD supply still contracted, from over $1.5B down to $1.37B.
The company still reported growth in the African digital asset market, with 52% year-on-year growth in payments. RLUSD is more widely used in collaboration with local fintech companies like Mercy Corps Ventures in Kenya. RLUSD is not as represented in the DeFi space, but serves as a P2P tool for multiple local payment services, including Chipper Cash, VALR, and Yellow Card.
Ripple also received investment grade rating for its Ripple Prime brokerage, expecting additional revenues and more clients for its institutional-grade service. Despite this, the XRP market price does not immediately reflect positive developments for Ripple.
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