The XRP community faced a sharp decline in interest after news broke of whales selling over 719 million XRP in just 24 hours, raising serious concerns about market sentiment and price stability.
Whale Sell-Off Triggers Volatility
On-chain data confirms significant XRP outflows from large wallets to centralized exchanges, often a prelude to major sell-offs. This coincided with a sharp increase in XRP liquidations, with over $41 million in long positions wiped out in the derivatives market over the same 24-hour period.
Mixed Signals from Whale Activity
Despite the sell-off, on-chain trends reveal a more intricate landscape. While some whales appear to be cashing out, others are quietly accumulating. Reports from blockchain analytics platforms show that wallets holding between 1 million and 100 million XRP have increased in number over the past two weeks.
Price Outlook and Regulatory Uncertainty
XRP is currently trading between key levels, with strong resistance at $3.32 and support between $2.90 and $3.00. A breakdown below these levels could trigger further downside toward $2.65. Regulatory uncertainty surrounding the SEC’s position on Ripple continues to weigh heavily on XRP’s long-term trajectory.
The sale of 719 million XRP in a single day has sent shockwaves through the XRP community. While such massive sell-offs are often seen as bearish, the broader context reveals a market in transition. Whale behavior is divided, technical levels are under pressure, and regulatory uncertainty continues to loom large.
