XRP News Today: XRP Falls 4% as Large Holders Dump 470M Tokens and Bearish Pressure Mounts

XRP experienced a 4% decline following the dumping of 470 million tokens by large holders, as revealed in recent market data [1]. Analyst Ali Martinez highlighted a significant exodus of whale activity over the past ten days, with the total number of tokens sold nearing 1 billion [1]. This selling pressure has contributed to a bearish trend in the price action of XRP, which has been forming a series of lower highs and lows since hitting $3.50 [1].

Technical indicators also reinforced the bearish sentiment. The Moving Average Convergence Divergence (MACD) showed growing momentum among sellers, with new short positions increasing across derivatives markets [1]. The launch of perpetual futures for XRP on Coinbase, as noted by CEO Brian Armstrong, attracted further U.S.-based short sellers [1]. A heatmap from Trading Different indicated a high likelihood of continued downward movement, especially with large liquidation pockets stacked below $2.60 and extending toward $2 and $1.80 [1].

CoinGlass data revealed that high-leverage short positions (50x–100x) were concentrated between $3.05 and $2.85, adding to the downward pressure on the token [1]. Institutional sentiment was particularly bearish, with a score of -5, significantly outpacing retail sentiment of -1.61 according to Market Prophit [1]. This institutional disinterest was further underscored by Chainlink’s increasing adoption by major players such as Swift and JP Morgan, according to Chainlink advocate Zach Rynes, who emphasized that XRP had not gained traction in the institutional space [1].

While XRP remains the third-largest cryptocurrency by market capitalization, the broader market environment has been volatile. The total market cap fell below $3.84 trillion in the last 24 hours, despite a rise in trading volume to $186 billion [1]. These macroeconomic conditions, combined with heavy selling pressure and weak institutional support, increase the risk of further losses for XRP should the broader market fail to stabilize.

Source: [1] XRP prices dip as 470M tokens sold, is $2.60 in sight? (https://ambcrypto.com/xrp-prices-dip-as-470m-tokens-sold-is-2-60-in-sight/)