Ripple (XRP) experienced a 10% decline in its price, dropping to $0.65 after hitting a three-month high of $0.72 just last week. On-chain data indicates that large crypto whales have initiated strategic moves aimed at disrupting the ongoing consolidation phase in XRP's price.

XRP's price is currently in a precarious position, with the cryptocurrency market retracting from the intense trading activity witnessed last week. As bullish whales make strategic maneuvers, there is a potential for another price breakout in XRP.

Crypto whales have been observed purchasing 90 million XRP within a span of 48 hours, despite the relatively flat XRP price action in recent days and the retreat of mega-cap cryptocurrencies from last week's exuberant highs. According to the Santiment chart below, wallets holding between 1 million and 100 million XRP had a cumulative balance of only 8.93 billion coins as of Sunday, November 12. However, this figure has swiftly risen to 9.02 billion as of November 14.

This surge in the whale population's holdings reflects their strategic acquisition of 90 million XRP coins within the past 48 hours. Valued at the current price of $0.66 per XRP, these newly acquired coins are approximately worth $60 million.

The significant increase in whale buying activity suggests that they may be positioning themselves for another price breakout after the recent rebound from the $0.65 support level. If the whales continue to accumulate, XRP's price could potentially retest the $0.70 area in the days ahead.

XRP's price witnessed a surge to a three-month high of $0.72 during a period of market overheating. This increase was fueled by excitement surrounding new listings on the Upbit exchange and a series of legal victories against the Securities and Exchange Commission (SEC).

However, after a week of consolidation, the Relative Strength Index (RSI) data reveals that XRP has transitioned from overbought conditions to a more neutral territory. As XRP's price reached $0.72 last week, the chart indicates that the XRP RSI surged to 87.93 on November 6th, marking the highest level since a U.S. court declared XRP as "not a security" back in July. Nevertheless, following a week of consolidation that pushed XRP's price down to $0.65 due to pressure from bears, the XRP RSI trend line has now settled into the neutral zone at 61.96.