Since early April, XRP whales have aggressively sold over 370 million tokens, worth approximately $765 million**, as the cryptocurrency struggles to stabilize above **$2. This sell-off highlights growing uncertainty among large holders, potentially signaling a lack of confidence in XRP’s near-term price trajectory.
Key Findings from On-Chain Data
- Whale Wallet Decline: Addresses holding 100,000–1,000,000 XRP have steadily reduced their balances since April, per Santiment.
- Price Correlation: The sell-off coincided with XRP’s rally to a monthly high of $2.23, suggesting profit-taking during upward momentum.
- Large Transactions: A single whale moved $60 million in XRP to Coinbase on April 15, hinting at impending sell pressure.
👉 Why Are XRP Whales Selling? Explore Market Trends
Market Impact of Whale Activity
Historically, whale sell-offs increase selling pressure, dampening price rallies or triggering corrections. This behavior often influences retail investors to follow suit, exacerbating downward trends.
XRP Price Reaction
- Current Price: $2.08 (down 3% daily, up 13% weekly).
Technical Indicators:
- Volatility: Moderate (8.26%).
- RSI: 49.20 (neutral momentum).
- Trading Below 50-day SMA ($2.27) but above **200-day SMA** ($1.88), indicating a mixed outlook.
Potential Drivers Behind the Sell-Off
- Profit-Taking: Whales may capitalize on recent gains amid ETF speculation.
- Market Sentiment: Uncertainty around regulatory developments or macroeconomic factors.
- Liquidity Moves: Large transfers to exchanges like Coinbase often precede further sales.
👉 How to Navigate XRP Volatility: Expert Strategies
FAQ Section
1. Why are XRP whales selling now?
Whales may be locking in profits after XRP’s rally or reacting to broader market volatility. ETF rumors could also be influencing their strategy.
2. How does whale activity affect XRP’s price?
Large sell-offs increase supply, often leading to price dips. Conversely, accumulation phases can signal bullish trends.
3. Should retail investors be concerned?
While whale movements are noteworthy, retail investors should focus on long-term fundamentals and avoid knee-jerk reactions.
4. What’s next for XRP’s price?
Key levels to watch include $2 (support)** and **$2.27 (50-day SMA resistance). Breaking either could dictate short-term direction.
Conclusion
The recent whale exodus underscores shifting sentiment in the XRP market. While technical indicators remain neutral, the asset’s ability to hold $2 will be critical for maintaining bullish momentum. Investors should monitor on-chain data and macroeconomic cues for clearer signals.
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