XRP is struggling to recover from last week’s market crash, with its rebound momentum dampened by weak investor support and growing selling pressure.
Despite broader market stabilization, XRP holders continue to offload their assets, intensifying the bearish sentiment and slowing the altcoin’s path to recovery.
XRP Holders Move To Sell
Although the crash occurred nearly four days ago, XRP investors continue to sell at unprecedented levels. Data from the exchange net position change indicates that selling volume is the highest recorded since December 2022. The persistent offloading suggests panic selling among investors, driven by the lack of a visible recovery in the token’s price.
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This sustained selling pressure could hinder XRP’s ability to regain momentum. With confidence fading, buyers appear hesitant to reenter the market. The continued outflow of tokens from investor wallets to exchanges highlights the prevailing fear that further losses may still lie ahead, limiting upward potential.
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XRP Exchange Net Position Change. Source: GlassnodeWhales have been major contributors to XRP’s recent price decline. Addresses holding between 100 million and 1 billion XRP have reportedly sold over 2.24 billion tokens worth more than $5.4 billion since the October 10 crash. This massive sell-off has intensified downward pressure on the market.
Such large-scale liquidation by whales signals deep skepticism regarding XRP’s near-term performance. Institutional and high-value investors exiting positions suggest a lack of faith in the token’s ability to stage a meaningful rebound.
XRP Whale Selling. Source: SantimentXRP Price Has To Bounce Back
At the time of writing, XRP trades at $2.44, hovering just below the $2.45 support level. If bearish momentum persists and investor confidence weakens further, the altcoin could slide to $2.35 or even $2.27 in the coming days.
This would make recovery increasingly challenging for XRP, which needs to climb back toward $2.85 to reclaim its recent losses. Sustained selling activity, particularly from large holders, could delay this process and push prices lower.
However, if selling pressure eases and investors begin accumulating once again, XRP could rebound. A push above $2.54 and $2.64 could pave the way toward $2.75, signaling renewed market optimism and invalidating the bearish outlook.
Source: https://beincrypto.com/xrp-selling-rises-as-whales-dump/
