XRP News Today: XRP Whales Offload $1.9B as Price Nears Key Support of $2.65

XRP has experienced significant outflows from large holders, with whale wallets offloading approximately 640 million tokens—equivalent to $1.91 billion at current prices—over the past month [1]. The selling pressure has raised concerns among analysts about the structural integrity of the XRP market. According to on-chain data from CryptoQuant, the majority of the distribution occurred while the token traded between $2.28 and $3.54, indicating a strategic exit during a price rally [1]. This marks the second such distribution this year, echoing a similar trend observed between November and January when whales reduced their exposure despite a price surge from $1.65 to $3.27 [1].

While not all whale activity necessarily indicates selling, the pattern of outflows has historically aligned with bearish price movements. For example, whale flows during January to April coincided with a correction from $3.27 to as low as $1.87, suggesting that major investors tend to accumulate during market weakness rather than bullish phases [1]. As of recent data, whale flows have shown modest recovery, but the Enigma Trader, a CryptoQuant-affiliated analyst, notes that sustained accumulation by large holders remains absent—a critical factor for a constructive trend reversal [1]. Without a consistent inflow of at least 5 million XRP into whale wallets, the market is considered structurally weak [1].

On the technical front, XRP faces a key support level at $2.65. According to bearish divergence observed on weekly charts, the price has reached higher highs while the relative strength index (RSI) has printed lower highs since January [1]. This divergence indicates weakening upward momentum, even as prices continue to rise. Volume has also declined during the recent rally, reinforcing signs of exhausted bullish momentum [1]. Analysts warn that a breakdown below $2.65 could trigger a deeper correction toward the 50-week EMA at $2.06, representing a potential 30% decline from current levels [1].

Whale behavior remains a key focus for traders and investors monitoring XRP. Large holders typically act as a barometer for broader market sentiment, and their recent offloading suggests either a lack of confidence or a strategic rebalancing. The sheer magnitude of the sell-off—nearly $2 billion in market value—could influence short-term price dynamics and investor psychology. Market reactions have been mixed; while some view the move as a bearish signal, others suggest that whales may be liquidating for reasons unrelated to the token’s long-term prospects [1].

XRP is currently in a consolidation phase, with traders closely watching whether it can maintain support above $2.65. A successful defense of this level could stabilize the price and set the stage for a potential rebound. However, a breakdown would likely accelerate the downward trend, validating the 30% decline risk highlighted by analysts [1]. Broader crypto market conditions will also play a role. XRP’s performance has historically mirrored larger market trends, and increased volatility across the crypto space could amplify the impact of the whale-driven sell-off [1].

The developments highlight the importance of tracking whale activity in the crypto market. Large holders have the ability to influence price movements, and their actions often signal shifts in sentiment and structure. As XRP digests the recent outflows and faces critical technical levels, the coming weeks will be crucial in determining whether the asset can stabilize and recover or if the current trend signals the start of a deeper correction [1].

Source:

[1] Cointelegraph – XRP Whales Offload $1.9B Putting Price at Risk of Drop – [https://cointelegraph.com/news/xrp-whales-offload-1-9-billion-analyst-alarm-price-crash-risk](https://cointelegraph.com/news/xrp-whales-offload-1-9-billion-analyst-alarm-price-crash-risk)