XRP whales keep buying the dip, but ether shows deeper capitulation

MarketsXRP whales keep buying the dip, but ether shows deeper capitulationCryptoQuant said large XRP spot orders point to "quiet accumulation" rather than a breakout, while ether’s price below realized value leaves holders underwater and gives it the strongest valuation case among BTC, ETH and XRP.By Shaurya Malwa Aug 6, 2026, 4:46 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowLarge XRP holders have continued accumulating the token throughout its slide from about $2.40 in January to roughly $1.00 to $1.20, a pattern CryptoQuant describes as quiet absorption rather than capitulation or a breakout.Ether is the only major token trading below its realized price, with the market around $1,900 versus an aggregate holder cost basis near $2,450, suggesting investors are underwater on paper even as Bitcoin and XRP trade above their realized prices.Onchain data show Ether and Bitcoin whales have been adding to holdings during the downturn, but CryptoQuant warns the market may still face one more leg lower before a durable floor is established, with Ether’s below-cost trading seen as the key metric to watch.Large XRP holders have kept buying through the token's slide from about $2.40 in January to the current $1.00 to $1.20 range, but they are doing it without lifting the market.Data from onchain analysis firm CryptoQuant shows average spot order sizes have stayed in what the firm classifies as “big-whale” territory throughout 2026. At the same time, 90-day taker cumulative volume delta, which measures whether buyers or sellers are the aggressors in a trade, has drifted to neutral after a taker-buy-dominant start to the year.Whales are a colloquial term for large holders of a token, whose buying and selling is watched closely because it tends to lead the wider market rather than follow it.The firm calls this a quiet absorption and a basing range rather than capitulation or a confirmed brea…

XRP whales keep buying the dip, but ether shows deeper capitulation

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