Whales Dump 1.12B XRP in Two Days: What Does It Mean for XRP Price?
Whale wallets offloaded 1.12 billion XRP in 48 hours, increasing the market supply. Will XRP retrace back to $1.7?
XRP has experienced significant price fluctuations, rising above $2.90 in early March before quickly retreating to below $2. Since the conclusion of Ripple’s legal battle with the SEC, the crypto has remained in a downward trend, consistently forming lower highs and lower lows.
Essentially, the overall market sentiment is more bearish, with key indicators reflecting ongoing selling pressure. Recent data reveals that large XRP holders have significantly reduced their positions, coinciding with the decline in cryptocurrency.
Blockchain data presented by analyst Ali Martinez highlighted that wallets holding between 100 million and 1 billion XRP initially maintained stable balances before a sharp drop.
Around March 28, whale holdings declined significantly. Over 48 hours preceding Martinez’s post, 1.12 billion XRP had been offloaded.
This led to increased market supply and further downward pressure on price. Historically, such large-scale liquidations have triggered panic selling among retail investors, amplifying the market’s instability.
Diverging Expert Predictions on XRP’s Future
Amid the whale dumping, market analysts have provided contrasting views on XRP’s future trajectory. Veteran trader Peter Brandt pointed to a head-and-shoulders pattern, suggesting that a drop below $1.90 could lead to a correction toward $1.07.
Meanwhile, he noted that a move above $3 could negate this bearish setup, but risks remain elevated until then.
Conversely, another analyst, known as XForceGlobal, maintained a bullish outlook, emphasizing that XRP’s timeline remains independent of short-term market movements. The analyst projected a potential price range of $7 to $10 for 2025-2026, dismissing immediate bearish concerns.
Contrastingly, crypto trader Javon Marks highlighted a potential breakout, citing XRP’s historical performance following similar technical patterns. He pointed to a previous 570% price surge after a falling wedge breakout, suggesting that another significant rally could be on the horizon.
The relative strength index (RSI) also indicated positive momentum, supporting a potential upward movement.
XRP Price Trends Across Different Timeframes
Over the past 24 hours, XRP declined by 3.4%, continuing its downward trajectory. The weekly performance shows a steep drop of 14.5%, signaling strong selling pressure.
A 10.4% decline over 14 days suggests persistent weakness, while the 30-day movement reflects a 4.9% decrease, reinforcing a bearish outlook. The cryptocurrency has struggled to sustain gains, remaining within a prolonged downtrend.
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