XRP Whales’ $4 Billion Sell-Off in November Is The Highest In 30 Days Since March 2023

Core Insights - XRP is experiencing a modest recovery due to optimism from the launch of spot XRP ETFs, but bullish momentum is under pressure from significant whale selling [1][2] - Large XRP holders have recorded their largest sell-off since March 2023, with over 2.20 billion XRP sold, valued at more than $4.11 billion, leading to a 32-month low in cumulative holdings [2][3] - The Net Unrealized Profit/Loss (NUPL) for XRP has dipped into the "Fear" zone, indicating fragile investor confidence, which could lead to either recovery or capitulation depending on future selling behavior [4][5] Whale Activity - The aggressive distribution of XRP by whales reflects deepening concerns among high-value wallets, as many are reducing their exposure to mitigate potential losses [3] - The cumulative holdings of addresses holding between 1 million and 10 million XRP have fallen to 4.39 billion XRP, indicating a significant shift in sentiment among large holders [2] Price Analysis - XRP is currently trading at $2.20, below the $2.28 resistance level, with support at $2.14; failure to maintain this support could lead to further declines [6] - A decisive move above $2.28 could signal increased confidence and potentially push the price towards $2.50, while continued selling pressure may reinforce bearish trends [5][7]