XRP Cryptocurrencies Withdraw $ 783 Million in a Week

The price of XRP XRP $2.06 XRP -1.22% Market capitalization $125.13 billion VOL. 24 hours $97.1 million has fallen back to the critical $ 2 level after several failed attempts to break above short-term resistance, indicating increased uncertainty in the market. Each growth spurt was accompanied by sales that brought the token back to this psychological level.

Over the past week, large XRP holders have begun to actively sell off their holdings. Wallets holding between 1 and 10 million coins have dumped more than 390 million XRP, worth approximately $ 783 million at current prices. This level of selling demonstrates the disappointment of high net worth investors who expected a faster recovery. As a rule, such dynamics have a negative impact on market sentiment, as large participants have a significant impact on liquidity.

Nevertheless, some long-term investors are holding their positions, partially offsetting the pressure from the whales. According to HODL Waves, the share of coins held in wallets aged one to two years increased from 8.58% to 9.81% over the week. This indicates the growing confidence of investors who purchased XRP less than a year ago and now decided to hold the asset despite fluctuations. This stability helps keep the price close to $ 2.

At the time of publication, XRP is trading at $ 2, which remains an important technical and psychological support. Price movements in recent days have repeatedly returned to this level, confirming its importance for the market structure. Analysts suggest that the token is likely to remain in the $ 2-$ 2.20 range until a clear catalyst for movement in one direction emerges.

If bearish sentiment intensifies and sales volumes of large holders increase, XRP could break through the $ 1.94 support level. In this case, the price could drop to $ 1.85, which would cancel short-term expectations for a recovery and deepen the market correction.