As December just kicked off, XRP gave the market a strong warning.

The price dropped more than 6% in a single day, heading straight for $2.02. This sudden drop was unexpected, but the underlying logic is actually quite clear—the on-chain data had already issued warning signals, but many people did not have time to react.

**The big players have collectively changed their minds**

In the past week, holders with over one million XRP have been quite active. They have ended the longest accumulation cycle of the year and started reversing their positions. In September, this group was still gradually increasing their holdings, but by the end of November, the situation changed dramatically, and the distribution speed noticeably accelerated.

The latest data from Santiment shows that the number of whales has started to decline from last month's high. Even more exaggerated is that this week's drop has set a record for the largest single-week decline in 2025. In simple terms: what was originally being sold off gradually is now directly entering a concentrated selling mode.

**Hundred billion level selling pressure hits the market**

The specific numbers are more striking. The total holdings of these large investors have dropped from over 70 billion coins to around 57 billion recently, with more than 10 billion coins flowing back into the market. With this level of selling pressure, it would be surprising if the price can remain stable.

Whale behavior often reacts faster than technical charts. When on-chain data shows a turning point in fund flows, the price adjustment in the secondary market is basically a foregone conclusion.

**The technical aspect is not showing a good face either**

If the whale sell-off is an apparent bearish signal, then the A/D indicator (the continuation of the article) is likely not to bring good news either.