XRP Price Under Pressure as Whales Offload 200 Million Tokens
XRP is showing renewed signs of weakness after recent selling pressure from large holders and bearish technical signals.
The token is trading near $3.02, with analysts warning of a possible dip toward $2.78 if selling continues.
According to market analyst Ali Martinez, whales have unloaded approximately 200 million XRP in the past two weeks, raising concerns over sustained downward momentum.
Data from Santiment shows that major wallets holding between 1 million and 10 million XRP significantly reduced their positions, coinciding with the latest pullback in price.
Technical indicators also suggest caution. The Relative Strength Index (RSI) on the daily chart is hovering around 53, indicating neutral momentum but leaning toward bearish territory.
At the same time, XRP recently failed to hold above $3.10, with traders eyeing $2.78 as the next key support level.
Ali noted that if selling pressure persists, XRP could retest the $2.90 and $2.80 zones before stabilizing. Failure to defend these levels may trigger a deeper correction.
Despite the bearish signals, XRP has shown resilience around $3.00, where buying interest has repeatedly emerged. Traders will now be watching whether this level holds in the coming sessions or if whales continue to weigh on the market.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
