XRP started 2023 with a boom fueled by speculation surrounding ETFs and institutional adoption. However, excitement has cooled as whales have been trimming their XRP holdings. On-chain data shows several large XRP addresses moved millions of tokens back to exchanges in recent weeks, suggesting profit-taking after strong mid-year rallies. Price action reflects this hesitation – XRP struggles to hold key resistance levels and remains locked in a tight trading range. Analysts warn that unless a new catalyst emerges, momentum may continue fading into September, leaving traders questioning if the asset can deliver substantial gains in the near term. While XRP’s long-term role in cross-border payments remains intact, its short-term potential seems increasingly capped, pushing investors to explore alternatives with higher growth trajectories. 2023 is showing that new contenders are emerging in the market.