440,000,000 Ripple (XRP) Sold by Whales in 30 Days: Time to Panic?

Whales sold 440 million XRP in 30 days as the price fell to almost $2.80. Analysts say this support level is critical to the market’s near-term direction.

Recent data shows a sharp decline in large XRP holdings. Over the past month, wallets holding between 1 million and 10 million XRP have released 440 million tokens.

This drop is getting attention because XRP is hovering near a key price level.

Large containers reduce exposure

Over the past 30 days, whales holding between 1 million and 10 million XRP have reduced their collective balance from approximately 6.95 billion to 6.51 billion XRP. This change was shared by analyst Ali Martinez, based on on-chain data.

During this time, the price of XRP has fallen 5% in the past week and 1% in the past 24 hours. The price was trading at $2.83 at the time of writing. The steady decline in whale stocks is consistent with the price decline, indicating that selling pressure may have affected the market.

Meanwhile, there were few breaks in this activity. Most of the movement appears consistent, indicating a clear trend of reduced exposure. Large investors often adjust their positions in response to broader market signals or when locking in profits.

$2.80 becomes a key support zone

The $2.80 price level has attracted attention due to the high transaction volume in this range. About 2.48 billion XRP changed hands at $2.80, making this 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 remains around $2.80, many may choose to hold or add more, creating a foundation for price stability. Buying interest often grows around these levels when the market becomes uncertain.

You might also like:

If the price drops below $2.80, holders can start selling. This can lead to short-term losses for many and result in higher trading activity. “$2.80 is the key support level for $XRP,” said Ali in a recent post, noting the extent of activity around this zone.

View short-term price points

Crypto analyst CRYPTOWZRD said that XRP’s price action is showing mixed signals. A daily close above $2.89 is seen as a bullish sign for the short term. If the price holds, this could make for a long entry.

A move above USD 3 could lead to an upward move towards USD 3.1320. If XRP fails to hold $2.89, the price could remain flat.

“We now have to wait for the market to get its next healthy trading opportunity,” the analyst noted.

The daily chart also shows XRP testing a trendline. A breakout above $3.15 could open the door for a move towards $3.65 or a possible high. Until then, traders remain alert to the price direction.