XRP whales have been fading from the market for the past four weeks, and the scale of the move is now visible in on-chain data.

According to Santiment figures shared by Ali Martinez, wallets holding between 1 million and 100 million XRP have sold a combined 1.18 billion XRP since late November, cutting their total holdings from near 4.8 billion XRP to about 3.62 billion XRP by mid-December.

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The supply curve shows a regular decrease across several checkpoints. On Nov. 24, whale balances were still pushing the upper end of the recent range. By Dec. 1, holdings had already fallen a lot. Another leg lower appeared by Dec. 8, and by Dec. 15, the data confirmed a full four-week exit pattern from this holder group. 

When the market is moving this quickly, it usually means that investors are being smart about risk, not just feeling the heat.

XRP price behavior followed same path

At the same time, XRP could not hold its ground when it tried to go above $2.10 to $2.20, and it kept hitting lower highs. Each time they tried to rebound, it happened faster than the last one, and by mid-December, the sell pressure was really picking up.

The latest decline pulled XRP to the $1.88-$1.90 region, where buyers slowed the drop but did not manage to regain lost structure.

Wallets holding between one and 100 million XRP often serve as liquidity anchors during market corrections, absorbing supply when retail flow weakens. Their ongoing reduction is eliminating that cushion. Until data shows stabilization or reaccumulation from this group, XRP is still exposed to further downside if demand does not expand fast enough to replace the missing capital.

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