Large XRP holders have resumed offloading their assets, raising concerns among analysts regarding the future price movement of the token.
Resumption of Large Holder Sell-offs
On August 7, a CryptoQuant analyst reported a sharp decline in the 90-day average whale inflow for XRP, now in negative territory. This trend reflects renewed sell-offs from large wallets and marks a significant shift from the previous accumulation trend.
Historical Parallels and Analyst Warnings
The analyst noted that a similar pattern occurred earlier this year prior to a 50% price drop. "A comparable pattern unfolded in January-February, when a local price top coincided with sustained whale distribution and a subsequent correction," he stated.
Current XRP Price and Its Movement
At the time of writing, XRP is trading at $3.08. Despite an approximate 4.7% rise in the past 24 hours, the token has shown negative performance over the past week. Since dipping from its July peak of $3.6, it has struggled to regain upward momentum.
Analysts warn that unless whale inflows recover, XRP may face further sell-offs, applying pressure on the token's price.
