Crypto Market Trend: Whales Continue Quiet Accumulation Amid Price Decline

Large XRP holders have continued buying even as the token's price has declined from $2.40 in January to its current range of $1.00-$1.20, according to onchain analysis firm CryptoQuant.

This 'quiet absorption' is distinct from capitulation, which typically marks the emotional low of a cycle, and suggests bigger players are positioning early for potential price action.

CryptoQuant's head of research, Julio Moreno, described this accumulation pattern as consistent with the final phase of the cycle's decline, where the largest cohorts add supply as prices sit near or below their realized prices.

Ether stands out among major tokens, trading at $1,900 against a realized price of about $2,450, indicating its holder base is underwater on paper. Bitcoin and XRP, however, trade above their respective realized prices.