XRP News Today: XRP's $3 Support Under Pressure as Whales Sell $28M Daily and Larsen Offloads $140M

XRP's $3 support level is facing mounting pressure as on-chain data reveals consistent selling from large holders and a significant insider transaction. Over the last 90 days, XRP whales have sold an average of $28 million per day, signaling sustained outflows and raising concerns about the token’s price stability [1]. This trend echoes a similar pattern in February when daily outflows reached $64 million, preceding a notable price drop.

The selling pressure has been further intensified by a large XRP transfer from Ripple co-founder Chris Larsen. Last week, he moved approximately $140 million worth of XRP to exchanges shortly after the token reached its recent all-time high of $3.65. Blockchain tracking tools have confirmed that the transfers originated from wallets directly linked to Larsen [1]. The timing of the move has drawn attention from the crypto community, with some interpreting it as a potential sign of uncertainty or strategic positioning.

Despite these bearish on-chain signals, XRP has shown minor resilience in the short term. As of press time, the token traded at $3.12, having gained 2% over the previous 24 hours. The market cap rose to $185.3 billion, supported by a 2.9% increase in daily trading volume to $6.11 billion. However, the volume-to-market cap ratio remains low at 3.3%, indicating limited liquidity and potentially heightened volatility.

The full picture is complicated by the fact that Larsen still holds a substantial 2.81 billion XRP tokens, currently valued at around $8.4 billion. This large remaining position suggests that the market could see more activity from this key insider in the future. Analysts have noted that while whale activity and insider transfers are common in the crypto space, their combined timing and scale can significantly influence investor sentiment and price behavior [1].

On-chain data also highlights a growing divergence between XRP’s price performance and its underlying fundamentals. While intraday price action has shown some strength, the continued selling pressure from large holders suggests weakening bullish momentum. Investors are now closely watching for signs that the $3 support level can hold or whether further declines are likely.

The broader market environment, including ongoing legal developments involving Ripple and shifting regulatory dynamics, will also play a role in shaping XRP’s near-term trajectory. As the market digests these factors, the coming days will likely determine whether the $3 level can provide a meaningful floor or if the asset will break below it and test lower support levels.

Source: [1] XRP's $3 Support Under Threat From Whale and Insider Selling (https://coinedition.com/xrp-3-dollar-support-under-threat-from-whale-insider-selling/)