Key Takeaways
- Whale activity surges: Large holders have sold approximately $800 million worth of XRP since early April.
- Price decline: XRP trades around $2.08**, down from $2.10, with potential further drops to $1.90** or **$1.55** support levels.
- Exchange inflows spike: Deposits rose from 28 million to 55.6 million XRP, indicating increased selling pressure.
- Market sentiment weakens: Broader crypto volatility and regulatory developments contribute to the downtrend.
Whale Movements and Market Impact
Ripple whales have offloaded 370 million XRP ($800 million) in recent weeks, according to analyst Ali Martínez. This selling spree began shortly after Ripple CEO Brad Garlinghouse announced the resolution of the SEC lawsuit.
Notable Transactions
- A single whale transferred 131 million XRP ($273 million) between unknown wallets, sparking concerns of an impending dump.
- Another whale moved $63 million in XRP within 12 hours, exacerbating market anxiety.
👉 Track real-time whale activity
Exchange data reveals a sharp increase in XRP deposits, from 28 million to 55.6 million tokens, suggesting whales are preparing to sell. Liquidation metrics show $5.1 million** in long positions wiped out vs. **$1.25 million in shorts, reflecting bearish sentiment.
Technical Analysis
- Resistance failure: XRP repeatedly rejected at $2.17**, with analysts targeting **$1.90 or $1.55 if the downtrend continues.
- Mixed signals: The MACD indicator shows a buy signal, but the RSI nears oversold territory, hinting at further declines.
- Weekly performance: XRP gained 15% last week but lost 4% in 24 hours due to whale sales.
External Factors Influencing XRP
Regulatory developments:
- The SEC’s pending response to Grayscale’s XRP spot ETF filing by May 22 could reignite bullish momentum.
- Kaiko Research notes XRP ETFs are more likely than Solana’s due to improved market depth.
Macroeconomic pressures:
- U.S.-China trade tensions and stock market corrections weigh on crypto markets.
- Nasdaq futures fell 1.42%, reflecting risk-off sentiment.
Ripple’s long-term potential:
- SWIFT integration rumors and ETF prospects could drive XRP beyond $3 in a bullish scenario.
FAQ Section
Why are whales selling XRP?
Whales may be capitalizing on the SEC lawsuit resolution or reacting to broader market volatility. Large exchange inflows suggest profit-taking.
Will XRP drop below $2?
If $2.00** support breaks, the price could test **$1.95 (200-day EMA) or even $1.55, per technical forecasts.
What could reverse the downtrend?
An ETF approval or institutional adoption (e.g., SWIFT partnership) could boost investor confidence.
Conclusion
XRP faces short-term pressure from whale sell-offs and weak market sentiment, but long-term catalysts like ETF approvals and Ripple’s cross-border payment solutions offer upside potential. Investors should monitor $2.00 support and regulatory updates closely.
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