Ripple's token (XRP) is experiencing increasing selling pressure as large holders liquidate their assets. Nearly 470 million XRP has been sold in the past ten days, raising concerns about further price declines.
Whale Selling
According to blockchain analyst Ali Martinez, aggressive selling by whales has coincided with a sharp price decline. Currently, XRP is trading at $2.88, below the psychologically important threshold of $3.00.
Technical Analysis
XRP's chart indicates that the token is testing the lower boundary of a long-running ascending channel. Key support is observed between $2.80 and $2.85. A clean breakdown below this range could open the door to steeper losses. Indicators also suggest negative sentiment, with the Relative Strength Index (RSI) dropping to 42 and the MACD line crossing beneath the signal line.
Outlook and Expectations
The next few trading sessions may prove crucial for XRP. If it can hold above the $2.80-$2.85 support range, a rebound toward $3.00-$3.10 could be attempted. However, failure to defend this zone risks sharp sliding toward $2.70 and beyond. Community sentiment remains mixed, as retail traders continue to hold long-term, while whale exits and regulatory uncertainties present challenges.
The market situation for XRP remains tense. The selling by large holders introduces uncertainty, but it could also lead to new opportunities for buyers if support holds.
