XRP Whales Keep Buying the Dip, But Ether Shows Deeper Capitulation

Large XRP holders have continued to buy the token's decline from $2.40 in January to its current price range of $1.00-$1.20, but this hasn't lifted the market.

Data from CryptoQuant shows that average spot order sizes for XRP remain in 'big-whale' territory throughout 2026, with a neutral 90-day taker cumulative volume delta after an initial buyer-dominant start to the year.

This is described as quiet absorption and a basing range rather than capitulation or a confirmed breakout by CryptoQuant.

Ether (ETH) is where the valuation case is strongest, trading at around $1,900 against its realized price of $2,450. This means that ETH holders are underwater on paper, while Bitcoin (BTC) and XRP are still above their respective realized prices.