- XRP’s 90-day moving average of whale flows turned positive in May, indicating renewed interest and a possible breakout in the coming months.
- The number of wallets holding over 1 million XRP reached a record high, and mid-sized holder growth increased by 6.2% this year.
- XRP’s trading volume on Binance fell to its lowest since August 2020, despite steady monthly closing prices above $2 since December 2024.
- Market sentiment for XRP hit a 17-day high, which coincided with developments in Ripple’s ongoing legal case with the SEC.
- A judge ruled that private settlements cannot override the authority of a court judgment in the SEC v. Ripple case, keeping legal uncertainty ongoing.
XRP, the cryptocurrency issued by Ripple, saw its 90-day moving average of whale flows—measuring large transactions—turn positive in May 2025, according to recent data. This change suggests heightened interest from large holders and hints at a potential shift in market dynamics ahead of the fourth quarter.
Onchain figures show wallet activity is rising. The number of addresses holding over 1 million XRP hit a record 2,850, while wallets with more than 10,000 XRP grew by 6.2% since the start of the year, reaching 306,000. Despite these trends, Binance reported its lowest XRP trading volume since August 2020. XRP has continued to close every monthly period above $2 since December 2024, yet overall market participation has decreased.
Analysis from CryptoQuant indicates that the recent uptick in whale flows marks a reversal from negative levels seen from January to April 2025. This pattern, which began to strengthen in early August 2024, previously coincided with a 420% price increase in the fourth quarter that year. Current whale capital inflows are now surpassing those from the prior year.
Futures trader Dom noted that the consistent accumulation among large and mid-tier holders signals strong long-term confidence in XRP. Analytics platform Santiment reported that positive sentiment toward XRP reached a 17-day high, accelerated by the ongoing legal case between Ripple and the SEC and a stalled $50 million settlement. In contrast, retail interest in Bitcoin and Ether has slowed as markets remain steady.
The legal case continues to develop. On June 26, District Judge Analisa Torres denied a request for an indicative ruling, stating in court documents that “the parties do not have the authority to agree not to be bound by a court’s final judgment.” Judge Torres added that both parties must either withdraw appeals or bring challenges through formal processes if they want to avoid the ruling’s effects. For further details, see journalist Eleanor Terrett’s update.
These events unfold as trading activity remains low, and the legal situation continues to create uncertainty for investors.
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