XRP Price Drops 10% as Whales Exit and Market Liquidations Hit Altcoins
XRP saw a sharp 10% decline in its price as large holders, often referred to as whales, began selling their holdings. The broader cryptocurrency market also experienced liquidations, adding pressure to altcoins like XRP.
The drop comes after a period of bullish momentum, with some analysts suggesting XRP’s rally may have peaked at $3.65. For the price to recover, several key factors must align, including renewed whale accumulation, positive market sentiment, and strong support levels holding firm.
Whale activity has been a major driver of XRP’s recent volatility. Large sell-offs by these investors can trigger cascading effects, leading to further declines as retail traders react. Additionally, the wider crypto market faced liquidations, exacerbating the downward pressure on altcoins.
To reverse the trend, XRP needs sustained buying interest, particularly from institutional or high-net-worth investors. A rebound in Bitcoin and Ethereum could also help stabilize the altcoin market, providing a foundation for XRP to regain lost ground.
Technical indicators suggest critical support levels must hold to prevent further downside. If selling pressure continues, XRP could test lower price ranges, but a recovery in market sentiment might reignite bullish momentum.
Investors are watching for signs of accumulation at lower prices, which could signal a potential turnaround. Until then, caution remains as market conditions stay uncertain.
