XRP has seen one of the most aggressive sales waves this year, with on-chain data showing that major whale wallets sold almost 200 million XRP, or about $400 million, in just 48 hours.
Related reading: Ethereum Dead Cat Bounce sets price at $3,400, but what is the ultimate goal?
According to Santiment analysts, the main participants were wallets holding between one million and ten million tokens, adding significant liquidity to the seller side in an already sensitive market.
This sudden influx of supply came at a time when XRP was already battling bearish sentiment in the broader crypto space. The asset’s value fell 10.32% in 24 hours, falling below the key psychological level of $2, hitting lows near $1.85 and recording double-digit losses in a single day.
XRP's price trends to the downside on the daily chart. Source: XRPUSD on Tradingview
Extreme fear grips the market
Market indicators paint a bleak picture. XRP is trading below both the 50-day and 200-day elementary moving averages, signaling continued downward momentum. The Fear and Greed Index ranks 14th, firmly in the “extreme fear” territory, while sales volume topped $7.2 billion in 24 hours.
Analysts have warned that a failure to reclaim resistance near $2.30 could open the door to deeper losses, with near-term forecasts suggesting a potential decline towards $1.50 if bear pressure continues.
The weakness isn’t exclusive to XRP. Bitcoin’s retreat below the $85,000 zone and Ethereum’s decline below $3,000 triggered market-wide liquidations, with macroeconomic uncertainty adding fuel.
Concerns about a possible delay in Federal Reserve interest rate cuts amid feeble U.S. employment data and rising unemployment have generally reduced investor appetite for risky assets.
Will XRP stabilize or fall further?
The substantial question now is whether the whales will continue distributing or stop landing. Analysts believe that unless a up-to-date wave of large-scale sales appears XRP it may stabilize and attempt to regain the $2 level in the coming sessions.
Recovery forecasts place the near-term target in the range of $2.50 to $2.70, although this would require a decisive break above long-term resistance.
The medium-term outlook remains cautiously sanguine but restrained. Many experts expect XRP to trade between $1.96 and $2.27 by the end of 2025, with stronger upward momentum unlikely until regulatory clarity and upcoming ETF activity begin to shape demand in 2026.
Related reading: Saylor’s strategy at risk: Index status at risk, with $8 billion on the line
For now, XRP is facing a gigantic supply overhang, and whether the bleeding stops depends on what the whales do next.
Cover photo from ChatGPT, XRPUSD chart from Tradingview
