$XRP
XRP lost much of its recent rise due to Trump, and data shows that whales are selling their positions.
On March 2, XRP recorded a massive rally of 34.15%. The price increase came after U.S. President Donald Trump announced that XRP would be included in a strategic cryptocurrency reserve of the U.S. along with Solana and Cardano.
However, the altcoin retraced 50% of its rally on March 3, and an analyst pointed out that XRP whales might be making moves behind the scenes.
XRP whales are selling at record levels.
With XRP currently 30% below its all-time high, CryptoQuant founder Ki-Young Ju hinted that large XRP addresses might be taking profits. Using the XRP volume bubble map, he highlighted elevated activity between $2 and $3 over the last month.
Although high volume activity can also be a sign of buyers, Young-Ju stated that the altcoin is currently in a distribution phase.
From a technical perspective, a “distribution phase” describes a stage in the market cycle where major investors gradually sell their holdings to secure profits, usually occurring near the peak of a bullish trend.
Additionally, Maartunn, a verified on-chain analyst, confirmed that XRP is going through a distribution phase. With the help of whale flow analysis, the analyst identified that negative whale flows, calculated with a 30-day moving average (30-DMA), reached a historic low.