XRP large holders have dumped 510 million tokens over the past week, valued at more than $2 billion. The selloff coincides with bearish price action and suggests continued distribution pressure from major investors.
What Happened: Whale Distribution
On-chain analytics firm Santiment tracked a sharp decline in holdings among XRP wallets containing 1 million to 10 million tokens.
These whale-tier investors, who control between $2 million and $20 million worth of XRP at current prices, collectively shed 510 million coins during the past seven days. The distribution marks an acceleration of a broader trend that began in mid-November, when whale supply first turned negative.
The timing aligns with XRP's recent price weakness. The asset retested the $2.00 support level before recovering to $2.09.
Analyst Ali Martinez also identified a Symmetrical Triangle pattern forming on the one-hour chart since November. The consolidation channel features two converging trendlines approaching each other at equal and opposite slopes, with XRP now more than halfway through the formation.
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Why It Matters: Distribution Pressure
The sustained whale selloff indicates shifting sentiment among XRP's largest holders. These investors typically influence market direction due to the size of their positions.
The technical pattern suggests a potential 16% move once XRP breaks out of the triangle. However, the direction of that breakout remains uncertain, and continued whale distribution could weigh on price action in the near term.
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