XRP News Today: XRP Plummets 6% as Whales Cash Out Amid Powell's Looming Speech

XRP, the native token of the XRP Ledger, has been under pressure in recent trading sessions, dropping 6% on Tuesday as large investors offloaded a combined total of 460 million XRP tokens. This significant outflow occurred amid heightened profit levels and anticipation of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium on Friday. Over the past six days, XRP has fallen by 13%, with much of the selling pressure coming from large-scale holders with balances ranging from 10 million to 100 million XRP [1].

According to on-chain data from Santiment, more than 93% of XRP's circulating supply remains in profit, with an average profit margin exceeding 90% since mid-July. This high level of profitability has historically triggered profit-taking in the event of market downturns. The recent price decline could amplify this tendency, especially if the market faces a broader bearish shocker. However, smaller whale accounts—those holding between 1 million and 10 million XRP—have added to their positions by 130 million tokens, suggesting mixed expectations among investors [1].

Technically, XRP has moved below several key support levels in the past 24 hours, including the 50-day Simple Moving Average (SMA) and the $2.95 level. If the price continues to fall, the next critical support lies at $2.78. A deeper decline could push XRP toward the $2.6 level. The Relative Strength Index (RSI) has dropped below its neutral threshold, signaling bearish momentum, while the Stochastic Oscillator has entered oversold territory, hinting at potential short-term rebounds [1].

The sell-off comes after a prolonged period of positive momentum for XRP, fueled by the resolution of Ripple's four-year legal battle with the U.S. Securities and Exchange Commission (SEC) and broader regulatory optimism following the election of Donald Trump. These developments have led to a sustained uptrend for the token since November 2024, with its average profit margin remaining above 80% since then [1].

Looking ahead, market participants are closely watching Powell’s Jackson Hole speech, which could influence investor sentiment and trigger further volatility. Analysts suggest that if the Fed signals tighter monetary policy or slower inflation progress, it may accelerate profit-taking among large XRP holders, potentially leading to a more pronounced price correction [1].

Source: [1] XRP Price Forecast: Large holders offload 460 million ... (https://www.fxstreet.com/cryptocurrencies/news/ripple-price-prediction-xrp-falls-6-as-large-scale-wallets-offload-tokens-202508200055)