- Ripple whale moves 131M XRP worth $273M, sparking fears of a major selloff.
- XRP price drops 4% in 24 hours after failing to break $2.17 resistance.
- Analysts warn XRP could fall to $1.90 or $1.55 if the bearish trend continues.
A high-profile XRP whale moved approximately $273 million in tokens which heightened market doubts concerning Ripple’s stability. According to data from Whale Alerts, an anonymous whale moved 131 million XRP from one wallet to another in a single transaction. Market participants speculate about the imminent sale of these tokens on public exchanges because of this activity which has added downward pressure on XRP’s price.
Large-Scale XRP Whale Movement Sparks Market Speculation
The critical transaction coincided with XRP’s ongoing difficulty in sustaining positive price movement. The market fears a selling wave because traders noted a transfer event following another large-scale $63 million XRP movement by a whale under 12 hours earlier. No one knows who owns the wallets involved in the transaction which leads experts to suspect an exchange involvement while increasing fears of a market selloff.
The market retains a cautious outlook despite the potential for an over-the-counter transaction suggested by some analysts. Market participants are watching developments to determine if other whales will sell their XRP holdings which could start a domino effect on its price.
Technical Indicators Highlight XRP Price Struggles
XRP has consistently fallen short in its attempts to surpass the $2.17 resistance level. Investor confidence is diminishing because the market repeatedly fails to surpass this resistance level. XRP has recently lost 4% in value during the last 24 hours because of whale activity after experiencing a 15% gain over seven days.
CasiTrades, a cryptocurrency analyst, reports that XRP maintains a trading position close to $2.06 while bearish indicators suggest it may fall to $1.90. If the selling pressure continues, the price could fall even further toward the $1.55 support level. The analyst added that while short-term dips might be bought quickly, the sustained rejections at key resistance levels create room for deeper corrections.
The XRP chart also shows fading momentum, with a lack of new buying interest at current levels. This aligns with growing concerns that whales could intensify selling if market sentiment remains weak, potentially accelerating the price decline.
Ripple Developments Remain in Focus as Market Reacts
While the XRP price struggles under technical pressure, broader developments around Ripple continue to draw investor attention. Rumors around a possible integration of Ripple with the SWIFT network and speculation regarding an XRP exchange-traded fund have created pockets of optimism.
However, these developments have yet to provide lasting support for the token amid current price volatility.
The market remains on alert as investors weigh technical risks against the potential for long-term growth. Although whale activity alone does not confirm a selloff, the magnitude of the recent transfers suggests caution is warranted.
XRP is under pressure following the $273 million transfer by a Ripple whale. With resistance holding firm at $2.17 and bearish technical patterns emerging, the price risks a drop to $1.90. Market participants remain cautious as further whale activity and uncertain macro signals continue to shape the outlook.
