Insight into the Sale of 140 Million XRP by Major Ripple Stakeholders

Ripple's XRP, currently trading around $2.62, has seen an increase of 8% over the last week. However, large XRP holders, or "whales", have reportedly sold over 140 million tokens as prices have risen. Analyst Ali Martinez shared the trend of large wallet balances dropping as XRP's value increased, a shift that has previously been associated with price reversals. In addition, the TD Sequential indicator has signaled a sell on XRP’s daily chart, which could serve as a warning to investors.

XRP is testing the upper Bollinger Band near $2.69, while the Stochastic RSI indicates overbought readings. Analysts have specified $2.53 as a critical level to monitor, suggesting a larger corrective move could be in progress if the price drops below this point.