XRP whales keep buying the dip, but ether shows deeper capitulation
CryptoQuant said large XRP spot orders point to “quiet accumulation” rather than a breakout, while ether’s price below realized value leaves holders underwater and gives it the strongest valuation case among BTC, ETH and XRP.
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Summary
- Large XRP holders have continued accumulating the token throughout its slide from about $2.40 in January to roughly $1.00 to $1.20, a pattern CryptoQuant describes as quiet absorption rather than capitulation or a breakout.
- Ether is the only major token trading below its realized price, with the market around $1,900 versus an aggregate holder cost basis near $2,450, suggesting investors are underwater on paper even as Bitcoin and XRP trade above their realized prices.
- Onchain data show Ether and Bitcoin whales have been adding to holdings during the downturn, but CryptoQuant warns the market may still face one more leg lower before a durable floor is established, with Ether’s below-cost trading seen as the key metric to watch.
