XRP has had a turbulent June, with the altcoin showing little to no clear direction. Throughout the month, macro bearish signals have loomed, affecting its price and sentiment.
However, there is potential for a reversal in July, thanks to the growing influence of whale investors.
Can XRP Whales Pull The Weight?
Whale activity has been a crucial factor in the past ten days, as large holders of XRP accumulate substantial amounts despite the price volatility. The addresses holding between 10 million and 100 million XRP have bought over 610 million XRP worth more than $1.33 billion.
This accumulation comes at a time when the broader market sentiment remains uncertain, and the whales’ influence could counterbalance the erratic behavior seen among smaller investors. Their moves signal that some big players remain confident in the long-term outlook for XRP, even as the market struggles to gain momentum.
However, investor sentiment remains mixed, with many smaller investors unsure about XRP’s next move. This uncertainty is exacerbated by macroeconomic conditions that have led to a prolonged downtrend.
The lack of clear developments, such as the delayed XRP ETF launch, has left investors hesitant, reflecting a broader trend of indecision in the market. Speaking to BeInCrypto, Temujin Louie, CEO at Wanchain, noted that XRP may have trouble launching an ETF.
“XRP remains a highly speculative asset, more so than BTC or even ETH. As such, the SEC’s postponement isn’t entirely surprising, as they are surely hesitant to set a precedent and trigger a wave of altcoin-ETF filings. Further complicating matters is the unpredictability of the current Trump administration and the looming possibility of another policy reversal in a few years,” Louie stated.
The overall market momentum for XRP has been influenced by the exchange net position changes, which show a lack of conviction from retail investors. Over the past month, the pattern of buying and selling on exchanges has been volatile, with no clear trend emerging.
This suggests that investors are unsure about XRP’s immediate future, further fueled by the delays in the anticipated ETF launch. The lack of concrete developments has led to an uncertain atmosphere surrounding the altcoin.
XRP Price Faces Downtrend
XRP’s price has been stuck in a downtrend for over a month, trading at $2.18 and holding above the support level of $2.13. The failure to break through this resistance suggests that the downtrend may continue into the start of July. The lack of positive movement leaves XRP vulnerable to further declines unless a significant catalyst arises.
The beginning of July and Q3 could present a gloomy outlook for XRP if the price remains trapped within $2.23 and $2.13. This scenario would signal a continued downtrend.
Nevertheless, XRP historically has had a positive July in terms of monthly returns. The median monthly return for the coming month for XRP sits at 6.91%. A similar rise in July 2025 would push XRP past the $2.23 resistance to reach $2.32.
However, if the whales change their strategy and shift from accumulation to selling, XRP’s price could face further losses. If it loses the crucial support level of $2.13, XRP could experience a sharp decline. The altcoin could potentially reach as low as $2.02, which would invalidate any bullish outlook for XRP.
Disclaimer
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