XRP has come very close to breaking its all-time high, trading at $3.24, just 4.69% below the previous peak of $3.40. This altcoin has risen over 35% in the past week, attracting significant attention from both retail and institutional traders.

However, beneath the surface of this bullish trend, signs of a potential reversal are emerging - triggered by an alarming sell-off wave of up to 1.74 billion dollars in just ten days.

Sold 1.7 billion dollars worth of XRP - Started taking profits

Since surpassing the $3.00 threshold, over 540 million XRP have been sold, equivalent to about 1.74 billion dollars in market value. This sell-off appears to be driven by profit-taking behavior, particularly from long-term holders (LTH), fearing the potential for price declines.

"This fear-driven sell-off may hinder XRP's growth towards new highs, as cautious sentiment currently prevails across the market."

Data from Glassnode shows that XRP balances on exchanges have increased, indicating a higher likelihood of future sell orders. At the same time, the HODLer Net Position Change has dropped to a six-week low, signaling a slowdown in accumulation activity among long-term investors.

XRP is at a crossroads: Support $3.00 or breakthrough $3.80?

Although the current uptrend has brought XRP to $3.24, the risk of short-term correction remains. If selling pressure increases, XRP could drop to $3.00 - a key support level. If it fails to hold above this level, the price could fall to $2.65, the next major support.

However, if the bullish market continues and new demand arises, XRP may still have room for upside. A strong breakout above $3.40 could pave the way towards $3.80, establishing a new ATH and solidifying its upward trajectory.

Conclusion

XRP is at a crucial moment. Just a few percentage points away from reaching its all-time high, market sentiment, whale behavior, and long-term holding activity may determine the next move for this currency. Whether XRP breaks out or retreats, the coming days could play a key role in XRP's trajectory in 2025.