XRP Whales Intensify Selling Pressure
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.
Resilient HODLers and the Battle Around $2
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:
