XRP Price Consolidates as Whale Activity Declines and Options Traders Remain Bullish

The XRP price has been consolidating between $1.36 and $1.40 over the past few days, despite a decline in whale activity and volatility.

According to data from CryptoQuant, the Whale Flow 30 DMA metric indicates daily whale accumulation has dropped to nearly 4 million XRP, down sharply from the 9–13 million XRP range recorded earlier this year. This suggests large investors are becoming more cautious amid market uncertainty and ongoing crypto market weakness.

However, analysts note that this does not necessarily indicate a distribution phase. Instead, retail investors appear to be stepping in as whale participation fades, with CryptoQuant's Retail-to-Whale Ratio 30DMA climbing from 0.7 in April to 1.14 in May.

The market sentiment may also be improving due to regulatory developments, including the Senate Banking Committee’s progress on the CLARITY Act. Meanwhile, XRP options data remains bullish, with more than 1,800 XRP options contracts worth roughly $2.5 million set to expire this Friday, with a max pain price of $1.42.

Call options continue to dominate puts, while the put/call ratio of 0.69 reflects positive market sentiment. Traders are also positioning for the May 29 monthly expiry, with strong interest in $1.48 and $1.55 call options. According to Deribit and Laevitas data, XRP options open interest has surged above 50 million for the first time in nearly two months, signaling renewed confidence in potential upside momentum.

Technically, XRP is rebounding from the lower Bollinger Band on the daily chart and currently trades near $1.36. Key resistance levels remain at $1.39 and $1.43, which traders are watching closely for a potential breakout.