Large holders of Rippleās native XRP token have been selling about $50 million worth of it every day.
The constant outflows from the whale wallets come at a delicate moment for the token, which is having trouble staying above the $3 support zone because of rising retail pessimism and mixed technical signals.
Whale Activity Weighs on Sentiment as Retail Fear Deepens
Analyst JA Maartunn shared data on X today showing that whale flow for XRP has averaged about $50 million per day over the last 30 days, indicating consistent selling activity from large holders.
This trend coincides with an uptick in retail fear and uncertainty, highlighted in a Santiment report on October 8, which found that XRPās ābullish-to-bearish sentiment ratioā had dropped to its lowest level since April, when U.S. President Donald Trumpās trade tariffs shook the crypto market.
The worldās fifth-largest cryptocurrency by market has seen its price slip by nearly 7% over the past week and 4.7% in the last month, according to CoinGecko data. It is currently trading around $2.82, down about 22% from its July all-time high of $3.65, although it still boasts a 435% gain year-to-date. The asset has only moved between $2.78 and $2.84 in the last 24 hours, which means it is in a short-term consolidation phase.
Even though wealthy investors keep selling, technical analysts like EGRAG Crypto are still positive because both the price and the Relative Strength Index (RSI) are going up.
In an October 10 post on X, the XRP enthusiast described the chart setup as āhighly bullish,ā projecting that a close above $4 could trigger the next leg upward. However, other observers have warned that the Ripple token could fall even more sharply if the $3 support level, which is seen as very important, doesnāt hold.
Retail FUD vs. Long-Term Fundamentals
Even though short-term sentiment among market participants may lean negative, historical data show that retail fear often comes just before big XRP price rises.
Santimentās past studies show that similar dips caused by fear have usually marked local bottoms. Furthermore, XRPās fundamental backdrop is still constructive, with Rippleās DeFi footprint continuing to grow, supported by rising XRP activity on the Flare network, where total value locked jumped 28% in September following the launch of its FAssets interoperability protocol.
As such, market analysts have argued that if whale offloading subsides and $3 remains intact, the token could resume its broader uptrend toward the $4 to $4.50 resistance zones, as projected in recent Elliott Wave analyses.
The post XRP Whales Offload $50M Daily: Sell Pressure Threatens Price Drop appeared first on CryptoPotato.
Ā XRP whale selling has averaged about $50 million a day over 30 days, signaling sustained large-holder exits.Ā AA News, Crypto News, Ripple (XRP) Price, XRPĀ
This articles is written by : Nermeen Nabil Khear Abdelmalak
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