XRP Consolidation Near $2.30 Amid Whale Sell-Offs
XRP consolidation around $2.30 has intensified following significant whale sell-offs. Over the past 48 hours, large holders offloaded 500,000 XRP, reducing collective whale balances from 6.9 billion to 6.23 billion tokens. After failing to breach the $2.50–$2.60 resistance zone, XRP has entered a tight $2.20–$2.40 trading range, with support levels at $2.10 and $1.95 under test. Trading volume has contracted, signaling cautious market sentiment and potential for further downside toward $1.90–$2.00 if distribution continues. On the bullish side, growing banking stablecoin initiatives from institutions like JPMorgan and Citi may boost XRP’s role as a neutral bridge for cross-border payments, enhancing interoperability across fragmented networks by 2026. Traders should monitor on-chain whale activity and volume shifts for reversal signals and watch key support levels to gauge short-term momentum.
Bearish
The news highlights ongoing whale distribution and contracting trading volume, classic bearish indicators for XRP consolidation. Historical patterns show that sustained sell-offs by large holders often extend downward trends by 10–15%, and current price action is testing lower supports at $2.10 and $1.95. Failure to regain momentum above $2.50 could prompt further declines toward $1.90–$2.00 in the short term. While banking stablecoin developments offer a longer-term bullish catalyst, immediate market sentiment remains cautious. Traders should watch for renewed accumulation from whales and volume upticks as prerequisites for any bullish reversal.