Ripple (XRP) has been facing a decline in its market value, despite major investors, referred to as whales, significantly increasing their holdings. This phenomenon raises questions about why XRP’s price continues to drop while large-scale acquisitions are happening within its ecosystem.

Whale Activity on the Rise

According to on-chain data from analyst Ali Martinez, substantial buy-ins have been noted among the largest market players in the XRP space. Whales resumed their active purchasing after a subdued period. Recently, they accumulated an impressive 190 million XRP within just a week, heightening interest around market dynamics.

“190 million $XRP have been accumulated by whales over the past week.” – Ali Charts Twitter

In addition, XRP’s parent company has been making headlines with noteworthy partnerships, licensing applications, and expansion plans in countries like Australia, Brazil, and Singapore. Ripple’s CEO, Brad Garlinghouse, highlighted the company’s achievements, mentioning impressive revenue growth post-acquisitions, asserting that they are on track for a record quarter.

Market Struggles Persist

Despite positive developments, XRP’s market performance remains disappointing, currently down 64% from its all-time high last July. The past week witnessed a 7% decline, reflecting XRP’s ongoing struggle against competitors like BNB.

Analysts suggest that a lack of investment interest, particularly from ETF investors, may be contributing to XRP’s inability to recover. The recent outflows from funds have further complicated market momentum, casting uncertainty on XRP’s ability to regain strength.

Related Articles:

• Staked XRP Surpasses 50M as Firelight Adds Sentora Exploit Protection
• XRP Derivatives Surge on Binance as Long Liquidations Mount: What’s Next for Ripple?
• XRP’s Bearish Structure Holds – But Can Bulls Flip the Trend?

Notably, CRYPTOWZRD pointed out that if XRP closes below $1.32, it could be a substantial indicator of a bearish market trend.