719 Million XRP In Last 24 Hours Stuns XRP Army
Main Idea
Whales sold over 719 million XRP in 24 hours, causing significant market volatility and uncertainty, while regulatory pressures and mixed whale activity add to the complexity of XRP's price outlook.
Key Points
1. Whales sold over 719 million XRP in 24 hours, equivalent to more than $2.3 billion, triggering market volatility and briefly pushing XRP below the $3.00 support level.
2. On-chain data confirms significant XRP sell-offs, with over $41 million in liquidations and 759 million XRP transferred in whale transactions, including 16.8 million sent to Coinbase.
3. Wallets holding 1 million to 100 million XRP have increased in number over the past two weeks, adding over 310 million XRP, creating mixed signals in the market.
4. XRP is trading between key levels: resistance at $3.32 and support between $2.90 and $3.00, with potential downside to $2.65 or upside to $3.65 if key levels are breached.
5. Ongoing SEC regulatory uncertainty around Ripple continues to impact XRP's long-term trajectory, influencing whale decisions to sell.
Description
A wave of shock swept through the XRP community after prominent X user Xaif revealed that whales sold over 719 million XRP in just 24 hours. The scale of the sell-off, equivalent to more than $2.3 billion at current prices, has raised serious concerns about market sentiment and price stability as XRP battles to hold key support levels. Whale Sell-Off Triggers Volatility On-chain data confirms significant XRP outflows from large wallets to centralized exchanges, often a prelude to major sell-offs...
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