🔸️The XRP market remains stable despite severe selling pressure from cryptocurrency whales. The price has experienced sharp fluctuations in recent days, but it remains stable around $3.09 thanks to retail investor activity and reduced available supply 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 potential upcoming scenarios.
Whale selling and retail accumulation: the impact on XRP price
🔸️During the past week, trading addresses holding between 10 and 100 million XRP sold approximately 400 million tokens, estimated at $1.2 billion. This amount of liquidation has put significant pressure on the market, contributing to recent volatility.
Despite these sales, the supply of XRP on exchanges has decreased. This indicates that other investors, especially retail investors, are acquiring a portion of the supply.
In just 24 hours, 77 million XRP, worth $231 million, was withdrawn from exchanges. These movements alleviate immediate selling pressure and strengthen key support levels.
🔸️According to the data, the current price of XRP is still above the critical support level of $3.07, which has withstood numerous breakout attempts. Buying activity from retail investors, along with a net positive 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🔸️In just 24 hours, 77 million XRP, worth $231 million, was withdrawn from exchanges. These movements alleviate immediate selling pressure and strengthen key support levels.
It seems that XRP started in 2017, but it is moving at a slower pace. If you look closely at the weekly chart, you will 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 collective actions of large and small players influence the price trend. 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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