On-chain data for XRP shows that large investors, or 'whales', have been selling in massive volumes over the past month. This has raised concerns that the XRP price could face a severe price drop in the coming days.
According to blockchain analysis firm CryptoQuant, the amount of XRP held by investors has decreased by approximately 640 million since July 9th. At current market rates, this represents about $1.91 billion (approximately 2.65 trillion won). Such a massive volume being dumped into the market is rare and is significantly impacting XRP's market sentiment.
Technical analysis also reveals a bearish divergence, with upward momentum clearly weakening. While the price is maintaining a certain range, trading volume and momentum indicators are showing a downward trend, increasing the likelihood of future adjustments. This situation coincides with asset outflows from whale wallets, further increasing downward pressure.
Although XRP has long been entangled in legal disputes with the US Securities and Exchange Commission (SEC), this selling wave proves that market-based demand itself is slowing, independent of regulatory issues. The current situation, with a potential 30% decline being suggested, serves as a clear warning to XRP holders.
Despite Trump's recent cryptocurrency-friendly statements, the trend of major holders of key altcoins like XRP appears to be following a separate trajectory. Experts believe that holders are realizing profits to avoid short-term price pressure and advise a more cautious analysis of trading timing.
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