XRP was trading around $1.12 in the latest session, with market signals leaning cautious rather than decisive. On-chain data points to steady whale distribution, while derivatives positioning shows little sign of aggressive conviction from either side.
Large holders trimmed more than 30 million XRP
Recent on-chain activity showed that whale wallets reduced their combined balances by more than 30 million XRP over a five-day stretch. A social media update tracking holdings from June 13 to June 17 showed balances easing from roughly 3.81 billion tokens to about 3.78 billion. The daily readings moved lower in sequence, suggesting measured distribution instead of a single sharp exit.
That matters because large holders can affect both liquidity and short-term sentiment. Traders are watching whether this supply continues to come to market and whether spot demand near current levels is strong enough to absorb it.
Price remains under pressure after a longer slide
At the time referenced in the source material, XRP had fallen 3.66% on the day and was down 1.63% over the past seven days. The broader trend has been weak for months. After trading above $3.00 earlier, the asset has pulled back sharply, and sellers have kept control even during intermittent rebounds.
The wider chart reflects repeated periods of softness. Recovery attempts have appeared, but they have struggled to build momentum. That leaves the current zone near $1.12 under close watch as participants assess whether demand can stabilize price action.
Funding rates stay near neutral
OI-weighted funding rate data from Coinglass adds another layer to the picture. Through much of the decline, funding remained close to neutral, showing that extreme leverage was largely absent. During earlier advances, positive funding briefly appeared as traders paid a premium to maintain long exposure. That optimism faded once momentum weakened.
Negative funding surfaced later, but only in limited episodes. Deep bearish leverage never became the defining feature of this move lower. The decline, at least from that angle, looked less like a panic event and more like a controlled retreat in a weak market. More recently, funding has continued to hover near the neutral line, with neither bulls nor bears pressing a strong directional view.
Whale balances are still large
Even after the recent reduction, large holders still control about 3.78 billion XRP. That keeps whale behavior central to the market narrative. For now, participants are tracking two things closely: whether distribution continues and whether funding starts to move away from neutral. Until either side shifts materially, XRP market signals remain cautious.