- Whales dumped 200M XRP ($450M), pushing the token down nearly 9% this week.
- Despite strong ETF activity, inflows slowed and selling pressure increased across major assets.
- Market-wide weakness may set up a strategic re-entry opportunity for whales looking to accumulate again.
Ripple’s native token XRP is slipping into rough territory after whales unloaded 200 million tokens — worth roughly $450 million — over the weekend. The massive sell-off triggered a sharp downturn, pushing XRP down nearly 9% on the weekly chart and raising fears the asset could slide below the $2 mark. November has turned increasingly bearish for XRP, despite several major catalysts arriving at the same time.
ETF Momentum Slows as Selling Pressure Rises
The timing of the whale exodus is surprising. Canary Capital’s new XRP ETF launched just days earlier with an impressive $58 million in debut trading volume — the best ETF launch of the year. However, by Monday, inflows had cooled, trailing more than $20 million behind its opening-day strength. Even with strong early reception, sentiment shifted quickly as whales began offloading their bags.
Adding to the mixed signals, Franklin Templeton’s XRP ETF is expected to secure SEC approval on Tuesday. Analysts believe it could surpass Canary Capital’s opening volume. But despite these bullish developments, rich-list wallets appear cautious — or opportunistic — depending on how you interpret the move.
Are Whales Preparing to Buy the Dip?
Social media chatter suggests whales may have taken profits at the top and are now waiting to re-enter at lower levels. This strategy isn’t new: large holders often sell into strength and buy back during corrections to accumulate more tokens at a cheaper price. With the wider market flashing red, whales might see better entry points forming.
And it’s not just XRP feeling the pressure. Bitcoin has also been hit hard, dropping over 10% in the past week and briefly touching $93,000 on Monday before recovering slightly to the $95,000 range. Ethereum is hovering dangerously close to $2,900 as overall crypto sentiment remains cautious.
Market-Wide Downturn Drags XRP Lower
XRP’s decline is part of a broader market cooldown, magnifying the impact of whale movements. At the time of writing, XRP is trading around $2.25, still trapped in heavy bearish momentum. And here is what many traders are watching now: if whales begin buying the dip in the coming days, it could stabilize XRP’s price and potentially flip sentiment back toward bullish territory.
