XRP owners sold cryptocurrency for a record $ 375 million

The virtual coin XRP XRP $2.15 XRP -3.24% Market capitalization $129.64 billion VOL. 24 hours $0.26 billion has fallen in price again — the cryptocurrency has spent six of the last seven weeks in the red, despite an inflow of $ 586 million into new ETF funds. According to BlockNews, the asset has lost more than 23% of its value in recent weeks. At the same time, some analysts believe that this is not the beginning of a crash, but a «redistribution phase» before a possible new growth.

Analyst MichaelXBT notes that the current decline is reminiscent of previous cycles when XRP was in a state of consolidation for a long time and then rose sharply. He cited the example of 2024, when the token traded around $ 0.58 for several months and later rose to $ 3.66, an increase of more than 600%. According to him, short-term investors are now exiting their positions, while large players are gradually accumulating coins.

Glassnode’s data shows that on July 24, long-term XRP holders sold $ 375 million worth of assets, the largest sales volume in the last eight months. This indicates partial profit-taking and a decline in confidence among retail investors. At the same time, large wallets continue to buy: in recent months, they have acquired about $ 7.7 billion in XRP, using the price drop to increase their share.

Despite the launch of several ETFs based on XRP in November, which should have stimulated demand, the token fell by almost 17% in a month. This indicates that institutional investments are not yet affecting the spot market due to the low activity of retail traders.

Analysts agree that XRP is in a consolidation phase, which may precede a new growth momentum. If the market demonstrates stabilization, the asset may resume its upward trend, as it has already happened in previous cycles. Currently, XRP is balancing between losing trader confidence and becoming a potential entry point for large investors, which may determine its dynamics in 2025.