The XRP market remains stable despite intense selling pressure from cryptocurrency whales. The price has seen sharp fluctuations in recent days, but it remains stable around $3.09 thanks to individual investor activity and the reduced supply available on exchanges.
This dynamic reflects a temporary balance between supply and demand, where intense selling is offset by steady buying from small and medium investors. We analyze the data that explains this price resilience and the potential upcoming scenarios.
Whale selling and retail accumulation: the impact on XRP's price
During the past week, trading addresses holding between 10 and 100 million XRP sold approximately 400 million tokens, valued at an estimated $1.2 billion. This amount of liquidation has imposed significant pressure on the market, contributing to recent volatility.
Despite these sales, XRP's supply on exchanges has decreased. This indicates that other investors, particularly retail investors, are taking up a portion of the supply.
In just 24 hours, 77 million XRP, worth $231 million, were withdrawn from exchanges. These movements alleviate direct selling pressure and strengthen key support levels.
According to data, the current price of XRP remains above the support level of $3.07, which is a critical level that has withstood numerous breakout attempts. The buying activity from individual investors, along with a positive net position, has helped maintain this range.
If XRP can strengthen support at $3.12, it may target $3.41, regaining some of the ground lost in recent weeks.
However, if selling pressure from whales intensifies, there is a risk of breaking support and retreating to $2.91, which would invalidate the short-term bullish outlook.
In just 24 hours, 77 million XRP, worth $231 million, were withdrawn from exchanges. These movements alleviate direct selling pressure and strengthen key support levels.
It seems that XRP began in 2017, but it is moving at a slower pace. If you look closely at the weekly chart, you'll find that it took three attempts to discover a true price. We are now in the second attempt, as Galaxy mentioned on X. XRP Price Analysis.
The current behavior of the XRP market is a clear example of how the joint actions of large and small players affect price direction. Whales still exert significant influence, but retail trading accumulation has prevented sharp declines.
As long as the support level at $3.07 holds and accumulation continues, XRP may find its way to a moderate recovery. However, selling remains
Continuous large-scale selling is a risk factor that investors should monitor closely.
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