Captain Redbeard recently highlighted a notable trend in XRP’s on-chain data: daily active addresses have been swinging consistently between 20,000 and 28,000.
At first glance, this may appear like routine network consolidation, but paired with significant whale movements, the picture becomes far more compelling. Behind the relatively muted surface activity, major holders appear to be quietly building their positions.
Active Addresses Reflect Consolidation
Active-address counts offer a useful snapshot of network participation, showing how many unique wallets are engaging in transactions at a given time. XRP’s stabilization within the 20K–28K range confirms that retail activity has cooled from earlier highs.
This type of compression is common during periods of market consolidation, where fewer participants are trading actively and transaction volumes appear flat. For long-term investors, however, such phases often mask deeper structural changes.
🚨 $XRP active addresses swinging between 20K–28K.
Whales quietly loading up? 👀 pic.twitter.com/wNRlBV0yRH
— Captain Redbeard 🦆⭕️ (@Brett_Crypto_X) September 9, 2025
Whale Movements Tell a Different Story
While retail activity remains subdued, large transfers suggest whales are anything but quiet. On-chain trackers such as Whale Alert have flagged repeated transactions involving tens of millions of XRP moving between exchange wallets and private holdings.
These transactions include movements into Coinbase, Binance, and other major venues, as well as large transfers into unidentified cold wallets. Such patterns often indicate strategic positioning, either through accumulation at favorable price levels or preemptive liquidity management ahead of anticipated market shifts.
Exchange Flows Reveal Supply Dynamics
The behavior of exchange reserves further supports the whale accumulation narrative. Coinbase-linked balances have seen significant drawdowns in recent weeks, a sign that large investors may be transferring their holdings into private custody or institutional-grade cold storage.
By contrast, Binance wallets have recorded notable inflows, pointing to active positioning on more liquid exchanges. This divergence illustrates a broader reshuffling of supply: while some whales accumulate for long-term storage, others may be preparing liquidity for tactical trading.
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Technical Levels in Focus
XRP is currently trading around the $2.50–$2.70 zone, with resistance forming near $3.37 — a level many analysts point to as the threshold for price discovery. Below current prices, the $2.33 level serves as a key support, while the $1.90 mark represents the macro bullish floor.
These technical levels align with the on-chain picture: while whales quietly accumulate, price remains locked within a tightening range, setting the stage for a potentially explosive move once volume returns.
Captain Redbeard’s Call
By drawing attention to the consistently active address band, Captain Redbeard has underscored a crucial insight: the calm in XRP’s on-chain activity belies deeper movements from large holders.
When combined with evidence of significant whale transfers, shifting exchange reserves, and critical resistance levels, the most accurate interpretation is clear — whales are quietly loading up while retail engagement stays muted.
Looking ahead, the anticipated approval of U.S. spot XRP ETFs could act as the catalyst that amplifies this whale-driven accumulation. If ETFs channel institutional capital into the asset, the groundwork being laid today through quiet positioning may transform into the fuel for XRP’s next major breakout.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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