XRP has been hit by one of its most aggressive sell waves this year, with on-chain data revealing that major whale wallets offloaded nearly 200 million XRP, roughly $400 million, within just 48 hours.
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According to Santiment analytics, wallets holding between one million and ten million tokens were the primary contributors, adding significant sell-side liquidity to an already fragile market.
This sudden influx of supply arrived at a time when XRP was already battling bearish sentiment across the broader crypto space. The asset slipped 10.32% in 24 hours, falling below the key $2 psychological level, touching lows near $1.85, and posting double-digit losses within a single day.
Extreme Fear Grips the Market
Market indicators paint a grim picture. XRP is trading below both its 50-day and 200-day Simple Moving Averages, signalling sustained downward momentum. The Fear & Greed Index sits at 14, firmly in “extreme fear” territory, while selling volume surged past $7.2 billion in 24 hours.
Analysts warn that a failure to reclaim resistance near $2.30 could open the door to deeper losses, with short-term projections suggesting a potential drop toward $1.50 if bearish pressure continues.
The weakness is not isolated to XRP. Bitcoin’s retreat below the $85,000 zone and Ethereum’s slide below $3,000 have triggered market-wide liquidations, with macro uncertainty adding fuel.
Concerns over a possible delay in Federal Reserve rate cuts, driven by soft U.S. jobs data and rising unemployment, have dented investor appetite for risk assets across the board.
The big question now is whether whales will continue distributing or pause their offloading. If no new wave of large-scale selling emerges, analysts believe XRP could stabilize and attempt to reclaim the $2 mark in the coming sessions.
Recovery projections place the short-term target between $2.50 and $2.70, though this would require a decisive break above long-standing resistance.
Medium-term predictions remain cautiously optimistic but restrained. Many experts expect XRP to trade between $1.96 and $2.27 into the end of 2025, with stronger upside momentum unlikely until regulatory clarity and upcoming ETF activity begin shaping demand heading into 2026.
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For now, XRP faces a heavy supply overhang, and whether the bleeding stops depends on what the whales do next.
Cover image from ChatGPT, XRPUSD chart from Tradingview
