XRP Whale Selling Intensifies Across Major Exchanges
Ripple’s native token XRP is facing increasing pressure as significant investors are selling off approximately $50 million in holdings daily. Recent whale tracking data indicates consistent exits over the last 30 days, intensifying existing market worries.
The surge in selling activity comes as XRP faces challenges in holding onto the $3 support level. Experts caution that ongoing whale liquidations may erode confidence and prolong downside risks if momentum does not stabilize in the near future.
Market Sentiment Weakens Amid Retail Fear and Uncertainty
Analyst JA Maartunn noted that whale flow has averaged $50 million daily over the past month, indicating a steady pattern of distribution. This trend aligns with increased retail unease after a period of inconsistent technical indicators and fluctuating liquidity.
Santiment’s report from October 8 revealed that the sentiment ratio for XRP, measuring bullishness against bearishness, has dropped to its lowest level since April. The findings reveal a growing sense of pessimism among smaller investors as trade policy uncertainty has unsettled the wider cryptocurrency markets.
XRP Price Consolidates Near Key Support Zone
XRP is currently trading at approximately $2.82, having experienced a decline of nearly 7% over the past week and 4.7% this month, as reported by CoinGecko. Even with recent short-term losses, the asset has surged 435% year-to-date, demonstrating a robust long-term recovery from the levels seen in early 2024.
In the last 24 hours, XRP experienced fluctuations between $2.78 and $2.84, indicating a period of consolidation within a tight trading range. Experts view this stagnation as a pivotal moment that may lead to either a resurgence or additional decline, contingent on volume trends.
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Analysts Divided On Next Direction For XRP
Some technical analysts remain hopeful in the face of ongoing whale selling. EGRAG Crypto characterized XRP’s present structure as “highly bullish,” indicating that a breakout above $4 might initiate another upward movement.
Some are exercising caution, indicating that not protecting the $3 level might lead to further declines. The support level has served as an important psychological and structural barrier since July, playing a crucial role in maintaining bullish sentiment as we approach late October.
Historical Trends Suggest Possible Reversal Zone
Despite the presence of short-term selling pressure, historical data indicates that retail fear frequently signifies significant reversal points in XRP’s market cycle. Previous analyses from Santiment indicate that notable declines in sentiment often occurred before local bottoms, which were then followed by robust recoveries.
If the past is any indication, ongoing panic selling may present a chance for strategic accumulation. Experts suggest that maintaining levels above $3 could restore confidence among retail and institutional traders as they prepare for the next upward movement.
Ripple Essentials: Stay Positive Amidst Uncertainty
The Ripple ecosystem is steadily growing, offering sustained backing for the valuation of XRP. In September, activity on the Flare network experienced a notable increase of 28%, attributed to the launch of its FAssets interoperability protocol, which significantly improved liquidity and utility.
At the same time, Ripple’s expanding influence in decentralized finance is significant, with partnerships becoming more robust across payment corridors. Experts suggest that these structural improvements could counterbalance short-term speculation as macro volatility decreases and utility metrics enhance.
XRP Analysts Predict Mid-Quarter Rally as Consolidation Builds Technical Foundation
If whale offloading slows down and the $3 level holds, XRP may continue its upward trajectory towards the resistance areas of $4 and $4.50. Projections based on Elliott Wave suggest a possible rebound in the middle of the quarter, bolstered by increasing volume and a return to normalized sentiment.
Market analysts highlight that periods of consolidation frequently set the stage for more robust rallies, especially when accompanied by technical divergence indicators. If retail confidence rebounds and whale supply decreases, XRP could regain momentum as we approach the November trading sessions.
