- XRP drops 21% in three weeks, erasing most of its 2026 gains.
- Santiment data shows 42 XRP millionaire whale wallets returned since Jan 1, 2026.
- CoinGlass data shows XRP open interest remains weak, limiting upside momentum.
XRP price has almost wiped out its new year gains during the past three weeks. This large-cap altcoin has dropped over 21% in the past three weeks to trade at about $1.88 on Thursday, January 29, 2026.
XRP price has followed the broader crypto bearish sentiment in the midterm, while the precious metals industry has shown more bullish sentiment. During the past 24 hours, XRP price dropped nearly 2% while Gold and Silver surged to respective new all-time highs, catalyzed by the Federal Reserve’s FOMC January decision.
XRP Whales on a Buying Spree
According to onchain data analysis from Santiment, XRP has recorded a modest return of whale investors. After more than 784 XRP accounts with at least 1 million coins exited between October and December 2025, Santiment noted that 42 millionaire whales have been recorded since January 1, 2026.
The renewed demand for XRP from whale investors has been backed by the spot exchange-traded funds (ETFs) in the United States. Year to date, the spot XRP ETFs have recorded a net cash inflow of about $92 million.
Why Now?
The renewed demand for XRP has followed its regulatory clarity in several global jurisdictions, led by the United States. The ongoing implementation of the GENIUS Act has helped the Ripple USD (RLUSD) grow to more than $1.4 billion in market cap.
The upcoming enactment of the CLARITY Act will further bolster the mainstream adoption of XRP, especially among institutional investors. Moreover, Ripple Labs has strengthened XRP’s utility through strategic acquisitions and partnerships.
Is a Rebound at Play?
For XRP price to rebound in the near future, catalyzed by renewed whale demand, its Open Interest (OI) has to rise in tandem. According to market data from CoinGlass, XRP’s OI has remained suppressed compared to its peak in mid 2025.
From a technical analysis standpoint, XRP price has been trapped in a multi-month consolidation amid its macro bull rally.
XRP price remains heavily correlated with Bitcoin and the wider altcoin market, which has been bleeding amid ongoing macroeconomic shifts. Notably, liquidity flow to the crypto industry has been hijacked by the ongoing bull rally of precious metals led by Gold and Silver.
As such, XRP price may retest its support level around $1.38 before rebounding towards the parabolic stage of its macro bull rally.
Related: XRP Bulls Show Strength Amid Early Signs of a Potential Upside Breakout
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