XRP Nears $2.70 Support as Bears, Whales Trigger Sell-Off
XRP has declined from above $3 to around $2.75 following a Bitcoin drop below $109,000, sparking liquidations across altcoins. Roughly $277 million in XRP moved through whale and institutional sales, intensifying bearish pressure and erasing $19 billion of market value in a week. Wider economic headwinds—US Federal Reserve caution on rate cuts and rising Treasury yields—have dampened crypto risk appetite. Despite Ripple’s ecosystem advances, including 7 million XRP Ledger wallets, a new RLUSD stablecoin, and an Ethereum-compatible sidechain, technical indicators remain negative. XRP trades below its 30-day moving average ($2.93), with RSI near oversold at 38 and MACD in a bearish crossover. Key support at $2.70 will be decisive: a breach could extend losses, while a rebound may signal short-term recovery. Bitcoin’s looming $23 billion options expiry adds further volatility to the market outlook.
Bearish
This news underscores mounting bearish momentum for XRP driven by large-scale whale and institutional selling alongside broader crypto market weakness triggered by Bitcoin’s pullback. Similar sell-offs in early 2025 saw altcoins follow Bitcoin whenever Fed hawkish signals and rising yields shifted capital away from risk assets. In the short term, testing the $2.70 support may provoke additional stop-loss triggers, prolonging the downtrend. In the medium to long term, XRP’s price action will hinge on macro indicators—Fed rate decisions, Treasury yields—and Bitcoin’s stability post-expiry. While Ripple’s network developments strengthen fundamentals, prevailing risk-off sentiment suggests limited upside until broader market confidence returns.