Whales sold $480 million in 48 hours as XRP price dropped below $2

In the context of the prevailing downtrend in the cryptocurrency market, XRP has officially lost the important psychological support level of $2. The altcoin’s decline accelerated over the past week, as major investors continuously offloaded their holdings, causing a significant increase in market supply.

XRP Whales Reverse Course, Shift from Accumulation to Sell-Off

“Whales”—wallet addresses holding between 10 million and 100 million XRP—have shifted from accumulation to heavy selling. In just the past 48 hours, this group sold more than 250 million XRP, equivalent to over $480 million. This move comes after more than 20 consecutive days of accumulation by the same group of investors.

This sudden reversal shows that the confidence of major investors in XRP’s price outlook has dropped significantly. Their simultaneous withdrawal removed a key source of support, weakening market strength and potentially prolonging XRP’s decline.

CXRP Whale Holdings | Source: Santiment Without a return of significant capital inflows, the momentum for recovery will continue to be limited, putting prolonged pressure on the price.

Macro Indicators Show Increasing Risk

Macro indicators also reflect the fragility of the current trend. XRP’s Long/Short MVRV metric has dropped below 0 for the first time in five months, showing that long-term investors are no longer holding profits. This creates profit-taking opportunities for short-term investors, who tend to sell quickly when prices recover, thereby capping upward momentum and maintaining high volatility in the market.

ChXRP Long/Short MVRV Spread | Source: Santiment If XRP sees a mild recovery, short-term holders may seize the opportunity to take profits, putting additional pressure on any upward trend and limiting the potential for a strong breakout.

XRP Price Outlook: Solid Support Needed

XRP has dropped 23% over the past 11 days and is currently trading around $1.92—below the $1.94 resistance level. Losing the $2.00 mark is not only a key technical signal but also reinforces the spreading negative sentiment among investors.

If whale sell-offs continue to intensify and macro indicators worsen, XRP may continue to fall toward the $1.79 area or lower, extending the downtrend and deepening pessimism in the market.

PhXRP Price Analysis | Source: TradingView Conversely, if buying demand from investors improves or the overall cryptocurrency market turns more positive, XRP could reclaim the $2.00 level as a key support area. A successful recovery would open up the opportunity for the price to rise to the $2.14 region or higher, potentially reversing the recent downtrend and refuting the negative short-term outlook for XRP.

Mr. Giao