XRP has struggled to maintain its value in 2026, extending its correction despite signs of accumulation among large holders.
The cryptocurrency has faced sustained selling pressure, losing several key support levels amid weakening market sentiment and declining institutional demand.
On January 1, XRP was trading at $1.87. By press time on November 7, it had fallen to $1.17, representing a decline of approximately 37.43%.
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Consequently, an investor who purchased $1,000 worth of XRP at the beginning of the year would now hold approximately $625.67, representing an unrealized loss of $374.33.
XRP’s critical technical juncture
XRP’s latest decline has brought it towards $1.17, placing the cryptocurrency at a critical technical juncture. The token has failed to sustain a recovery above $1.30 after briefly approaching $1.35 on November 4 and 5.
As things stand, XRP’s immediate daily support is around $1.16, followed by $1.14 and $1.12. A break below these levels could expose the cryptocurrency to further losses, with monthly support near $0.98.
On the upside, XRP faces immediate resistance at $1.19–$1.21.The weekly pivot at $1.27 represents another recovery hurdle, followed by resistance at $1.33 and $1.41.
The broader technical picture remains weak, with XRP trading below its 200-day exponential moving average (EMA) and its 20-day EMA pointing downwards.
Its daily relative strength index (RSI) has approached oversold territory, recently falling towards 32, indicating stretched selling pressure.
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However, an oversold RSI does not necessarily signal an immediate reversal. XRP needs to reclaim $1.27–$1.30 to establish a more convincing recovery, while a sustained move above the $1.32–$1.37 moving-average cluster would provide stronger evidence of improving momentum.
Increasing XRP millionaire addresses
Despite the declining price, on-chain data suggests that large investors are continuing to accumulate XRP.
For instance, Santiment data showed that wallets holding at least one million XRP reached 2,147 on November 4, the highest level of 2026. The figure increased by 28 wallets in 10 days, including 18 in the preceding three days.
Separately, large holders accumulated approximately 280 million XRP over two days, while another 13.24 million tokens left exchange wallets on November 6. These developments suggest continued accumulation, although wallet growth does not necessarily represent new purchases.
Exchange balances offer further insight into investor positioning. XRP Insights tracked approximately 22.33 billion XRP across publicly attributed exchange wallets, down 150.7 million over seven days and 161.2 million over 30 days. Declining balances could reduce the supply immediately available for trading, although outflows alone do not guarantee price gains.
Institutional demand presents a less encouraging picture. U.S. spot XRP exchange-traded funds (ETFs) attracted just $18.83 million in net inflows during October, their weakest monthly performance since January.
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They also struggled to attract fresh capital in early November, with no meaningful net inflows reported since October 29.
The divergence between whale accumulation and weakening institutional demand suggests that, although large holders are positioning themselves for a potential recovery, broader market participation remains insufficient to confirm a bullish reversal.
Featured image via Shutterstock
