XRP price faces renewed pressure as the broader crypto market slides sharply, with Bitcoin dropping below $90K and Ethereum slipping under $3,000. This crash in the market has caused a tremble in key assets. The liquidity became tight within a short time because risk appetite was substituted by fear.
Meanwhile, XRP price followed the wider selloff rather than showing isolated strength. The pressure to sell rose when the market leaders lost the important psychological levels. Therefore, XRP price now reflects macro-driven weakness instead of token-specific stress.
XRP Price Pressured by Sustained Whale Selling
XRP price weakness closely aligns with intensified whale distribution over recent weeks. The big holders sold about 1.18 billion XRP in a month, which caused continued supply pressure.
Notably, such activity often reflects strategic exits rather than short-term reactions. As whales offload positions, available supply rises faster than demand can absorb it. Consequently, XRP price struggles to stabilize during rebound attempts.
This pressure unfolded alongside today’s crypto market crash. In just one hour, the market lost another $23 billion making the total losses to be $127 billion in 24 hours. That unexpected flow of liquidity exaggerated negative movements in key assets.
Specifically, whales distributing during rapid selloffs tend to accelerate declines. XRP price reacted by losing previously defended support zones. All the rebound efforts were short lived, which strengthened the side of supply over panic selling.
Notably, there are usually prolonged corrective periods before whales are distributed. XRP now reflects that behavior clearly, with selling pressure opening room toward the $1.50 level.
XRP Structure Signals Bearish Continuation
The XRP structure now signals a clear bearish shift, highlighted by a completed classic head-and-shoulders formation on the daily chart. This trend was formed over time, and it was an indication of a continuous decline in buyer confidence.
The left shoulder was formed in a period of recovery when buyers continued to push the price higher. Price then proceeded to make the head, but that rally did not bring long term demand. Selling pressure that takes upside tries fast showing exhaustion around highs.
This imbalance was confirmed by the right shoulder. Buyers were unable to recover previous heights, which is an indicator of weakened power. The last support zone was the neckline of around $1.95.
Once XRP price broke below that level, selling pressure expanded sharply. XRP market valuation is trading at around $1.87, and the price is lower than previous consolidation levels that have become resistance.
Besides, the RSI behavior reinforces this bearish view. Instead of rebounding convincingly, RSI at 33 remains suppressed below neutral. Such persistence implies that sellers are in charge. As a result, the pattern’s measured move aligns with a downside price target near $1.50.
XRP/USDT Daily Chart (Source: TradingView)To conclude, XRP price remains under pressure as whale selling compounds broader market weakness. The disintegration of major structure attests to a bearish continuation formation.
Technical set-up now indicates a definite downside target of $1.50. Unless price reclaims broken levels decisively, XRP will likely move toward that zone.
Source: https://coingape.com/markets/is-xrp-price-headed-for-1-5-as-whales-dump-1-18b-xrp-in-just-four-weeks/
