On-chain data indicates that XRP is approaching a "deep capitulation zone"—a level that has historically triggered trend reversals on multiple occasions. While short-term selling pressure from retail investors continues to weigh on market sentiment, "whales" are steadily accumulating, and high-net-worth investors are actively increasing their spot holdings. This divergence between price weakness and the continued growth of holding addresses suggests that the market is currently in an accumulation phase driven by institutions and large-scale investors. If a bottom can be established in this zone—supported by a rotation of capital—XRP could see a strong rebound, laying the groundwork for a significant trend reversal; however, the price action of Bitcoin and broader market capital flows remain key factors to watch.