XRP Whales Sell 470M Tokens in 10 Days, Price Risks Ahead
The post XRP Whales Sell 470M Tokens in 10 Days, Price Risks Ahead appeared on BitcoinEthereumNews.com.
Key Insights Whales offloaded 470M XRP in 10 days, driving prices below $3 and weakening market structure. Despite losses, 93% of XRP supply remains profitable, raising questions of potential profit-taking pressure. XRP eyes $2.78 support as RSI weakens, while traders await Powell’s Jackson Hole speech. XRP Whales Sell 470M Tokens in 10 Days, Price Risks Ahead Whales holding between 10 million and 100 million XRP tokens have reduced their positions by around 470 million coins in the past 10 days, according to data shared by analyst Ali Martinez. “470 million $XRP sold by whales in the last 10 days!” he noted, pointing to a sharp drop in large-wallet balances. During this period, XRP has fallen to $2.88, with a 24-hour trading volume of $5.79 billion. The token is down 45% in the last 24 hours and 11% over the past week. The decline in whale holdings appears to coincide with price weakness, as XRP struggled to hold above $3.20 and slipped below the $3.00 mark. Profitable Supply Raises Questions of Profit-Taking Despite the recent decline, more than 93% of XRP’s circulating supply remains in profit, according to Santiment data. Since mid-July, holders have enjoyed an average profit margin above 90%, and the metric has not dropped below 80% since last November, when XRP rallied after President Trump’s election victory. XRP Supply in Profit. Source: Santiment The prolonged high profitability follows the conclusion of Ripple’s legal battle with the US. Securities and Exchange Commission (SEC) and positive regulatory developments under the Trump administration. With most of the supply still in profit, analysts suggest that heavy profit-taking could emerge if the market experiences further bearish shocks. Technical Outlook Weakens XRP fell below several key technical levels in the past 24 hours. The token moved under the lower boundary of a symmetrical triangle…
