XRP Whales Hit Snooze: Ledger Logs Just Two $1M+ Moves as ETFs Bleed $7.18M 🐳💤

Whale activity on the XRP Ledger has plunged over the past week, with transactions valued above $1 million falling from 70 to just 2, according to on-chain data shared by crypto analyst Ali Martinez citing Santiment. The sharp decline in large-value transfers comes as XRP continues to trade under sustained selling pressure, with market participants pointing to weekly spot ETF outflows and escalating US-Iran tensions as contributing factors.

Spot XRP ETFs in the United States registered net outflows totaling $7.18 million during the same period, adding to a broader pullback in institutional exposure to the asset. The combination of reduced whale participation and persistent ETF redemptions has weighed on sentiment, even as some analysts characterized the slowdown in high-value transactions as a potential consolidation phase rather than a directional signal.

XRP, the native token of the XRP Ledger, traded lower alongside the broader crypto market as geopolitical headlines dominated trading flows. The token has struggled to mount a recovery since the start of the latest leg down, with price action reflecting a steady drift rather than a single capitulation event. Market data referenced by Martinez shows that the count of transactions exceeding $1 million on the XRP Ledger has tapered gradually rather than collapsing in one move, suggesting a measured rotation out of larger positions.

The backdrop includes renewed uncertainty over US-Iran relations, which traders cited as a risk-off catalyst affecting both equities and digital assets. While XRP's price decline has tracked weakness across major cryptocurrencies, the token's specific underperformance has been amplified by the ETF outflows and thinning whale order books, according to market commentary tracked by CoinGape.

The drop in whale transactions is a notable on-chain signal, given that large transfers historically correlate with shifts in positioning by high-net-worth holders and institutional desks. With only two such transactions recorded on the XRP Ledger over the trailing week, the data points to a marked cooling in aggressive accumulation or distribution at the top of the holder base, leaving XRP's near-term trajectory closely tied to broader risk