- XRP whales have dumped over $800 million worth of tokens since early April, sparking fears of deeper market weakness despite Ripple’s legal win against the SEC.
- XRP’s price plunged from $2.50 to $2.10, with failed resistance tests and a death cross dragging it down further toward the critical $2 support level.
- Analysts warn of more downside if XRP can’t hold the $2 mark, though a rebound remains possible if support holds and bullish momentum returns.
Something’s clearly up with XRP — and not in a good way. Over the past couple of weeks, some of the biggest holders (aka whales) have been quietly but aggressively unloading their bags. Since early April, more than $800 million worth of XRP has hit the market. Yeah, that’s a lot.
Needless to say, Ripple’s community is on edge. Is this just a hiccup before a bigger move, or is it a signal of something more serious brewing beneath the surface?
What’s Behind the Whale Exodus?
Crypto analyst Ali Martínez dropped the bomb: 370 million XRP have been sold off by whales since the beginning of the month. That’s not just a small reshuffle — it’s an exodus. And the weird part? It all kicked off right after Ripple CEO Brad Garlinghouse announced the long-awaited resolution of the company’s fight with the SEC.
You’d think that kind of news would fuel a rally. But nope. Instead, it felt like a textbook “sell-the-news” moment. XRP slid from nearly $2.50 to just over $2.10 in what felt like a blink — a 16% drop that hit hard.
Now, analysts are warning: if current support levels don’t hold, we might be looking at another leg down — maybe to $1.65. Ouch.
Market Feels… Shaky
Here’s where things get messy. Even though Ripple’s win over the SEC was supposed to be bullish, there’s still no official closure announcement. That’s kept traders jittery, unsure whether the real move has already come and gone.
One analyst put it bluntly: “Most of the pump came from the hype, not the actual win.” Fair enough.
Still, there’s chatter about a possible XRP ETF coming to the U.S. — and if that happens, it could change the whole picture. For now, though, the massive whale dump is a glaring warning sign that big money might be preparing for rougher waters ahead.
XRP Price Action: Bulls Try, Bears Say “Nope”
Yesterday started on a hopeful note. XRP opened the day at $2.1240 and tried to push higher. The MACD flashed some golden crosses, and by 9:05 AM UTC, XRP had tested $2.182 resistance. Nice… but not for long.
The market was overbought, and — boom — correction time. Prices dipped back to $2.148, hovered there for a bit, then tried again. Another resistance test around 13:50, another rejection. Rinse, repeat.
Then came the kicker: a death cross hit around 13:50 UTC. XRP couldn’t hold its ground and started falling, finally finding support around $2.0664. By evening, it flirted with $2.107 support, but the bears weren’t done. They kept pushing, and XRP slipped closer to the $2 mark.
At last glance? It was trading near $2.05. Not ideal.
What’s Next? Can XRP Hold the $2 Line?
Let’s be real — the $2.20 level has been a headache for XRP for a while. It’s acting like a brick wall, and this recent attempt wasn’t any different. Analysts are already saying XRP’s dropped deeper than they expected. That’s… not great.
If the $2 support holds, there’s still a shot at stabilizing things and setting up for a smoother ride. But if not? More downside is on the table.
Right now, all eyes are on that $2 line. Hold it — and maybe bulls get another shot. Lose it — and things might get ugly, fast.
