XRP News Today: 719M XRP Dumped in 24 Hours Sending Price Below $3.00 Support

A massive 719 million XRP were sold within a single 24-hour period, sending shockwaves through the XRP community and raising concerns about market stability and investor sentiment. The transaction, revealed by prominent X user Xaif, translates to over $2.3 billion at current prices and coincided with a sharp increase in liquidations across derivatives markets, wiping out over $41 million in long positions during the same timeframe. This event briefly pushed XRP below the critical $3.00 support level, before a minor rebound was observed [1].

Blockchain analytics confirm that large wallets moved significant amounts of XRP to centralized exchanges, a typical precursor to large-scale selling activity. This follows a similar pattern seen just days earlier, when over 759 million XRP were transferred in two major whale transactions, including a direct 16.8 million XRP deposit into Coinbase. While not all such transfers indicate immediate sales, they often signal preparations for liquidation or strategic portfolio adjustments [1].

Despite the sharp sell-off, the on-chain data tells a more nuanced story. Wallets holding between 1 million and 100 million XRP have seen a noticeable increase in the past two weeks, with over 310 million XRP added to whale holdings since July 27. This suggests that while some large holders are reducing exposure, others remain committed to long-term accumulation [1].

The conflicting signals from whale activity highlight the market's growing uncertainty. XRP is currently hovering between key technical levels, with strong resistance at $3.32 and critical support between $2.90 and $3.00. A breakdown below these levels could trigger further downward movement toward $2.65, a historically important demand zone. Conversely, a sustained move above $3.30 could reignite bullish momentum and push the price toward the yearly high of $3.65 [1].

Regulatory uncertainty continues to weigh heavily on XRP’s long-term prospects. Although XRP has seen legal victories, such as the 2023 ruling by Judge Torres that XRP transactions do not constitute securities offerings, the lack of a clear position from the SEC has left investors in a state of prolonged uncertainty. This ambiguity may be influencing some large holders to offload tokens amid concerns about centralized control and regulatory risk [1].

The sudden and large-scale sale of 719 million XRP has deepened the sense of unease among XRP investors. While such activity is typically viewed as bearish, the broader picture reveals a market undergoing significant transition. Whale behavior is split between those exiting and those accumulating, while key technical levels remain under pressure. XRP’s future will likely depend not only on whale movements but also on macroeconomic conditions and regulatory clarity [1].

Source:

[1] Times, [https://timestabloid.com/719-million-xrp-in-last-24-hours-stuns-xrp-army/](https://timestabloid.com/719-million-xrp-in-last-24-hours-stuns-xrp-army/)