XRP whales dumped nearly $780 million in a week, creating significant selling pressure on the altcoin. Will the crucial $2 level hold against this massive sell-off? With dedicated hodlers and impatient large holders, XRP market is in a decisive battle shaping its short-term trajectory.
On-chain data reveals massive distribution among large XRP holders. In just seven days, wallets holding between 1 and 10 million XRP sold over 390 million tokens. That’s the equivalent of $783 million at current prices. This marks one of the largest sell-off movements recently observed for the asset.
This coordinated whale sell-off reflects a certain impatience following recent favorable regulatory developments for Ripple, which have yet to produce the expected bullish effect. These influential players are now converting their positions into liquidity. This weighs heavily on market sentiment and amplifies the fragility of the price action.
This wave of selling comes as the market remains under tension, with Bitcoin still lacking bullish momentum. XRP whales are currently prioritizing profit-taking, creating an imbalance between supply and demand and keeping the price under constant pressure.
Faced with this selling pressure, long-term investors are playing a stabilizing role. HODL Waves data reveals that the share of supply held for 1 to 2 years increased from 8.58% to 9.81% in one week, signaling growing conviction among these intermediate holders.
These holders choose to maintain their positions despite volatility and the temptation to take profits. This attitude contrasts sharply with that of the whales and allows, for now, to keep XRP above the psychological support of $2, absorbing part of the selling.
From a technical perspective, XRP is trading precisely around $2.00, a decisive pivot level. A breakdown below $1.94 would open the path toward the $1.85 zone, invalidating any short-term bullish outlook. Conversely, a rebound above $2.10 could reignite momentum and trigger a short squeeze. The market is thus entering a critical phase where each session can tip the trend.
It’s Christmas before time with Ledger, 50% off or $90 in BTC offered for purchasing a Ledger here:
Related articles:
Passionate about cryptocurrencies since 2019, I cover the latest news through clear and accessible articles. My goal is to make crypto understandable for everyone, with reliable and well-researched content.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
