Ripple Price Plummets as Whales Turn on XRP and Network Activity Collapses

XRP's recent price action has been marked by a violent rejection following its multi-month peak at $1.70, and some on-chain data suggests more pain is ahead.

Whales, who drove XRP's massive run in August with their accumulation efforts, have turned against the token. According to Ali Martinez, citing Santiment Intelligence, they sold or redistributed roughly 90 million XRP over the past week, increasing immediate selling pressure and setting an example for retail investors.

Daily active addresses have also plummeted by over 90% from the peak of 388,492 to 38,163. Martinez views this as a 'significant drop in participation during the correction.'