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XRP whale transactions drop 57%, signaling consolidation amid price weakness around $1.30

Technical Signals
23 May 2026
Finbold
View Source
Bearish
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XRP is entering a consolidation phase as whale transactions over $1 million fell 57% from 157 to 67 in nine days, indicating reduced activity from major investors. Despite this, XRP's network shows strong growth with a spike in new wallets and active addresses, suggesting ongoing user engagement. The price remains bearish, trading below key moving averages at around $1.30, with potential to stay range-bound between $1.20 and $1.40 unless whale activity picks up. A break above $1.40 could lead to gains toward $1.50, while continued weakness may push it down to $1.10-$1.20 support levels.

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