Whales sold $60M in XRP, pushing large wallet holdings near a 5.1M token low.
EURØP stablecoin launch expands XRP Ledger’s use for regulated euro transactions.
XRP price struggles near $2.44 resistance amid low volatility and whale selling.
Over $60 million worth of XRP has been sold by whale wallets in the past 72 hours, suggesting growing distribution pressure. According to a post by Ali Martinez, XRP wallets holding between 100,000 and 1,000,000 tokens dropped sharply from May 17, now nearing a chart low of 5.1 million XRP. This aggressive unloading contrasts with a relatively stable price range of $0.62–$0.63, signaling a notable divergence between price action and major holder behavior.
From late February to early March 2025, these wallets surged in accumulation, lifting the price briefly to $0.68 before peaking. After mid-March, holdings declined steadily from 6.7 million to under 5.6 million XRP, while XRP remained volatile between $0.59 and $0.64. By April 9, wallets had plunged to 5.1 million XRP as prices dropped to $0.58, underscoring the tight correlation between distribution cycles and price movement.
EURØP Launch Reflects Institutional XRPL Growth
The large-scale XRP selloff comes just as new utility-based developments surface on the XRP Ledger. A MiCA-compliant euro stablecoin, EURØP, officially launched on the XRP Ledger, introducing regulated asset exposure for institutional investors. The stablecoin is fully backed and redeemable, issued by Schuman Financial under the ACPR, which operates within France's central banking system. EURØP reserves are held at Societe Generale and other major institutions, with regular audits conducted by KPMG.
The launch expands XRPL’s utility by enabling compliant euro-denominated transactions across DeFi protocols and liquidity pools. Strategic custody and audit plans point to a deliberate effort to align with financial regulations while leveraging the XRP Ledger’s scalability. This development strengthens the case for XRP as a core asset in regulated crypto finance ecosystems.
BingX Data Reveals Tight XRP Range Near Resistance
As whale wallets continue reducing positions, market behavior reflects caution. BingX’s XRP/USDT 15-minute chart shows trading at $2.4189 with low volatility, confirming limited market enthusiasm. The price moved between $2.4174 and $2.4210 for hours, suggesting hesitation after a failed attempt to breach the $2.44 resistance. Converging moving averages at 5, 10, and 30 periods reinforce a sideways trend, dampening expectations of a short-term breakout.
Volume peaked near $2.44 before declining, matching short-bodied candles and fading momentum. Sellers regained control as price slipped below the 5-period MA, while repeated tests of the 30-period MA hinted at structural resistance. These signs point to temporary exhaustion, reinforcing the bearish sentiment sparked by whale selling.
Market Analysts See Divided Outlook Amid Utility Push
Despite recent selloffs, some analysts remain optimistic about XRP’s long-term value, driven by utility. Barric stated XRP could hit $10 “very very soon,” predicting further spikes to $20 during an alt season. If institutional adoption accelerates, he suggested that a $100 to $1,000 XRP is feasible.
Such predictions rely on assumptions of global banking integration and full-scale XRP Ledger adoption. Still, near-term price action and whale behavior indicate caution dominates trading sentiment for now.
The post Whales Sell $60M in XRP as Wallets Fall to 5.1M and EURØP Launches on XRPL appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
