40,000,000 Ripple (XRP) Sold by Whales in 30 Days: Time to Panic?
Recent data shows a sharp reduction in large XRP holdings. Over the past month, wallets holding between 1 million and 10 million XRP offloaded 440 million tokens.
This drop is gaining attention as XRP hovers near a key price level.
Large Holders Reduce Exposure
In the last 30 days, whales holding between 1 million and 10 million XRP reduced their collective balance from around 6.95 billion to 6.51 billion XRP. This change was shared by analyst Ali Martinez, based on on-chain data.
During this time, XRP’s price has fallen by 5% over the week and 1% in the last 24 hours. The price traded at $2.83 at press time. The steady decline in whale holdings aligns with the drop in price, suggesting that the sell pressure may have influenced the market.
Meanwhile, there were few pauses in this activity. Most of the movement appears consistent, pointing to a clear trend of reduced exposure. Large holders often adjust their positions in response to wider market signals or when locking in gains.
$2.80 Becomes a Key Support Zone
The price level of $2.80 has drawn attention due to high transaction volume in this range. Around 2.48 billion XRP changed hands at $2.80, making it the largest zone of realized value. This number accounts for almost 4% of the total supply.
Notably, this type of buying activity suggests that many holders entered the market at or near this level. If the price stays near $2.80, many may choose to hold or add more, creating a base for price stability. Buying interest often grows around these levels when the market turns uncertain.
If the price drops below $2.80, holders could begin to sell. This may lead to short-term losses for many and result in higher trading activity. “$2.80 is the most important support level for $XRP,” said Ali in a recent post, pointing to the weight of activity around this zone.
Watching Short-Term Price Points
Crypto analyst CRYPTOWZRD said that XRP’s price action shows mixed signals. A daily close above $2.89 is being watched as a short-term bullish sign. If the price holds, it may present a long entry.
A move above $3 could lead to an upward move toward $3.1320. If XRP fails to hold $2.89, the price could remain flat.
“We now need to wait for the market to get the next healthy trade opportunity,” the analyst noted.
The daily chart also shows that XRP is testing a trendline. A breakout above $3.15 could open the door for a move toward $3.65 or a possible high. Until then, traders remain on alert for price direction.
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