XRP whales have intensified their sell-side activity, pushing the price below $3. According to a CryptoQuant analyst, Maartunn, millions worth of Ripple tokens are leaving whale wallets daily.
XRP whales, holding more than 1,000 tokens, are intensifying their selling. Data from Whale Flow, using a 30-day moving average, indicates approximately $50 million worth of XRP is leaving whale wallets daily.
This ongoing trend creates strong selling pressure, negatively impacting market sentiment. Analysts reference CryptoQuant flow charts that visually support sustained net outflows since early 2024.
This level of selling has raised concerns among analysts. They warn that the current downtrend could accelerate unless a clear bullish shift occurs, possibly adding pressure on smaller holders as well.
Analysts say that if whale offloading subsides, XRP could rise to $4.50
Although short-term sentiment among market participants may lean negative, historical data show that retail fear often comes just before big XRP price rises. Santiment’s past studies show that similar dips caused by fear have typically marked local bottoms.
In addition, XRP’s fundamental backdrop remains constructive. For one, Ripple’s DeFi footprint continues to grow, supported by rising activity on the Flare network, where total value locked jumped 28% in September following the launch of its FAssets interoperability protocol.
As such, market analysts have argued that if whale offloading subsides and $3 remains intact, the token could resume its broader uptrend toward the $4 to $4.50 resistance zones, as projected in recent analyses.
Meanwhile, traders are eagerly awaiting the launch of the spot Ripple ETFs. Some market commentators claim that the US SEC might approve an XRP ETF by October 18. Still, regulatory experts urge patience.
Additionally, recent positive regulatory signals have improved the odds for ETF filings in 2025, particularly following legal clarity regarding Ripple and a more favorable US environment for cryptocurrency.
Polymarket odds indicate a probability exceeding 99% that the SEC will approve an XRP ETF by 2025. Ultimately, XRP’s next move may depend on fundamental developments, such as ETF decisions or further large-scale whale actions.
Also, as reported by Cryptopolitan, Ripple is deepening its presence in the Middle East through a new partnership with Bahrain Fintech Bay (BFB), the kingdom’s leading fintech incubator and blockchain ecosystem builder. If XRP captures just 2% of the region’s $58 billion remittance market, this would translate into more than $1 billion in annual on-chain transactions, potentially driving demand for liquidity.
XRP tanks below $3
XRP is currently moving with a bearish outlook in the market. The token is currently struggling to regain its bullish market momentum as it trades a little below $3. According to the analysts, a constant and steady trading activity at $2.85 is inevitable for stable market momentum.
However, XRP requires a breakout above $3 to spark renewed bullish momentum and notable market dominance.
According to on-chain data, the world’s fifth-largest crypto coin by market cap has seen its price slip by nearly 7% over the past week and 4.7% in the last month. It is also trading down about 22% from its July all-time high of $3.65.
However, it still boasts a 435% year-to-date gain and managed to outperform 99% of the top 100 crypto assets over the last year, including prominent ones like Bitcoin and Ethereum.
The asset has only moved between $2.78 and $2.84 in the last 24 hours, which means it is in a short-term consolidation phase. It is currently trading at 2.82.
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