#XRP On-chain data reveals retail capitulation: panic and frenzy selling as whales secretly accumulate throughout the year; a bottom-market setup is being brewed

Recently, XRP has been in a prolonged downtrend, and the entire market is filled with bearish sentiment. Many retail traders can’t withstand continuous losses and choose to exit. On-chain indicators clearly show signals of retail retreat:
Active interaction addresses, contract open interest, and small transaction activity all shrink sharply at the same time; market speculation heat is completely exhausted. Large numbers of long-term holders are dumping their holdings at a loss, while dormant XRP that has not moved for years starts circulating in batches—this is a typical feature of a market capitulation phase.

But it’s the opposite of retail behavior—whale funds are doing a counter-cyclical buildup:
Top wallets holding between ten million and one hundred million XRP have been steadily adding and accumulating throughout 2026. The core MVRV indicator remains persistently negative, meaning the current price is far below the average cost basis of their holdings, and the asset is in a deeply undervalued range.

The short-term price action remains weak, but the chips have already shifted from retail to whales. Once sell pressure gradually eases, the whale accumulation trend will continue. Before retail returns to refocus on XRP, whales will likely help form a bottom and kick off the upturn. #xrp $XRP