XRP Whale Holdings Near 3-Year Low: What Does It Mean For The Altcoin’s Price?

Core Insights - XRP's recent price rally has failed to break out of a descending wedge pattern, leading to stagnation and waning confidence among large holders [1][5] - Whale activity indicates a significant sell-off, with over 100 million XRP tokens sold by addresses holding between 100,000 and 1 million XRP in just 10 days [2][3] - The Realized Profit/Loss Ratio has reached a two-month high, suggesting that investors are selling into strength rather than accumulating, reflecting a bearish sentiment in the market [4][5] Whale Activity - A $300 million sell-off has reduced whale holdings to their lowest level in nearly 34 months, indicating growing hesitation about XRP's short-term potential [3] - The decline in accumulation among whales suggests a shift towards safety, anticipating further price corrections [3] Market Sentiment - The increase in the Realized Profit/Loss Ratio highlights prevailing bearish sentiment, with profit-taking accelerating and XRP's market structure appearing fragile [4][5] - Without renewed buying pressure, continued selling could maintain downward pressure on XRP's price, delaying any significant recovery attempts [5] Price Analysis - As of the latest data, XRP is trading at $2.94, attempting to hold this level as support after a failed breakout [6] - If bearish sentiment persists, XRP could decline towards $2.85 or lower, potentially triggering further selling among short-term traders [7] - Conversely, an improvement in market conditions could lead to a target of $3.12, with a confirmed breakout potentially resulting in a 19% rally to $3.61 [8]