Whales accumulated 70 million XRP over the past week, according to on-chain data. The buying spree pushed the token's price higher and sent futures open interest surging. The accumulation comes as US inflation shows signs of cooling, though the broader crypto market remains volatile.
The whale activity
Addresses holding between 1 million and 10 million XRP added roughly 70 million tokens to their wallets in the seven days through July 19. That's a notable increase for a single week, even by whale standards. The buying was spread across multiple wallets, not concentrated in one or two — suggesting coordinated accumulation or a broader shift in sentiment among large holders.
Futures market heats up
Open interest in XRP futures climbed sharply alongside the whale buying. The metric, which tracks the total value of outstanding futures contracts, hit levels not seen in months. The jump indicates that leveraged traders are piling in, betting on further price moves. That can amplify gains — but also raises the risk of a sharp liquidation cascade if the trend reverses.
Macro backdrop
The whale activity unfolded against a mixed macro picture. US inflation data released earlier this month came in cooler than expected, fueling hopes that the Federal Reserve might ease its tightening stance. That helped lift risk assets broadly. But crypto markets have been choppy, with sudden drawdowns in Bitcoin and Ethereum rattling sentiment. XRP's relative strength during this period stands out.
Traders are watching whether the accumulation continues into next week. Key US economic data is due on July 22, including the latest jobless claims and a consumer sentiment reading. A surprise hot print could reverse the inflation narrative and pressure XRP along with the rest of crypto. For now, the whales are buying — and the market is taking note.
