XRP (XRP) whale flows have slowed sharply since early May, even as options traders position for a rebound toward the $1.40 zone.
XRP Whale Flow Cools Sharply
The token is consolidating in a tight $1.36 to $1.40 band as broader crypto markets absorb a wave of selloffs. CryptoQuant data shows whale flow has dropped to roughly 4 million XRP per day, down more than half from the 9 to 13 million daily peak seen in early May.
That cooler pace puts whale accumulation back at March levels.
The shift points to a more cautious stance among large holders rather than active distribution.
Whale inflows to Binance recently hit a four-year low, yet the slowdown reflects rising retail engagement rather than a deeper unwind.
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Options Traders Stay Bullish
CryptoQuant's Retail-to-Whale Ratio 30DMA climbed to 1.14 this month from 0.7 in April, confirming the rotation. The Senate Banking Committee's advance of the CLARITY Act appears to be drawing retail traders back into the market.
Despite the cooler whale tape, options desks remain upbeat on XRP.
More than 1,800 contracts with a notional value of $2.5 million expire Friday, with a max pain price of $1.42 and a put-call ratio of 0.69.
Traders are now eyeing the May 29 monthly expiry, with positioning concentrated around $1.48 and $1.55 calls. The monthly max pain sits at $1.40, suggesting elevated odds of XRP drifting toward that level into expiry.
Laevitas data shows XRP options open interest has climbed back above 50 million for the first time in nearly two months, a sign of renewed conviction.
XRP Price Action Tightens
XRP last traded near $1.36, bouncing off the lower Bollinger band on the daily chart, with 24-hour volume down roughly 8%. Bulls need a clean push through $1.39 and $1.43 to confirm any upside follow-through.
The token has spent about 60% of 2026 stuck between $1.30 and $1.50, with sellers consistently defending the upper edge of that range. Spot XRP ETFs pulled in roughly $81.59 million in April and another $28.1 million between May 4 and May 6, lifting total assets across the seven U.S. funds toward $1.53 billion. Whale wallets holding at least 10 million tokens now control 45.83 billion XRP, the highest level since May 2018.
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