Author of the news: Crypto Emergency
Massive sales and price pressure
November became the month of record sales of the XRP token by major holders. According to on-chain analytics, wallet owners with balances from 1 to 10 million coins realized more than 2.2 billion XRP, which is equivalent to $4.11 billion. As a result, their total reserves decreased to 4.39 billion tokens, hitting a minimum in the last 32 months.
Such aggressive capital distribution has neutralized the positive effect of the launch of spot ETFs and intensified pressure on the market. Investors are seeking to reduce risks and lock in profits, indicating uncertainty in the sustainable growth of the asset.
Sentiment indicators: transition to the 'Fear' phase
The unrealized profit/loss indicator (NUPL) has fallen below the mark of 0.25, signaling the market's transition to the 'Fear' stage. Such movements have historically led to two scenarios:
Recovery - if panic stabilizes and sales cease, quotes may gradually strengthen.
Capitulation - increased pressure from sellers can cause a sharp drop in asset value.
Technical analysis and key levels
At the time of publication, XRP is trading around $2.20, remaining below resistance at $2.28.
Support: $2.14 - held thanks to the launch of the ETF.
Consolidation range: $2.14–$2.28.
Risks: a break below the lower boundary could send the price to $2.00 or lower.
Positive scenario: consolidation above $2.28 will open the way to $2.36 and $2.50, signaling a new accumulation phase.
