Something unusual is happening in crypto.
Large XRP holders have continued accumulating while XRP fell from around $2.40 to the $1.00โ$1.20 range.
But thereโs a bigger signal underneath the market.
ETH is showing deeper capitulation.
Ethereum is trading around $1,900, while its realized price is near $2,450 โ meaning the average holder is sitting on an unrealized loss.
Meanwhile, XRP and BTC remain above their respective realized prices.
The divergence is interesting:
๐ XRP: whales quietly accumulating
๐ด ETH: holders deeply underwater
โฟ BTC: still above realized value
This doesnโt confirm a bottom yet.
But if whale accumulation continues while selling pressure fades, the next major move could be very different from what the market expects.
The question now: Which asset bottoms first โ XRP or ETH?