The cryptocurrency markets have experienced a notable price drop, particularly for the XRP token, linked to large holder sell-offs.
Current Market Prices
The crypto market faced a slight pullback over the last 24 hours. XRP is trading at $2.89 with a 24-hour volume of $6.74 billion. The token has dropped by 4% in the last day and 11% in the past week.
Whale Activity and Exchange Flows
Crypto analyst Ali Martinez reported that whales sold about 470 million XRP in the last ten days. On-chain data indicates a steep decline in holdings by large wallets, consistent with heavy distribution. Additionally, whale activity on exchanges has increased.
Market Outlook
XRP is trading against a backdrop of regulatory clarity following Ripple's settlement with the SEC. If selling continues, XRP may test the $2.70–$2.50 range. However, if accumulation speeds up and exchange inflows ease, the token may stabilize.
The situation in the XRP market is closely monitored by analysts observing whale activities and macroeconomic events.
