XRP Whales Dump 90M Tokens, Price Faces Downside Risk
Whale activity has intensified selling pressure on XRP after over 90 million tokens were offloaded in just 72 hours. The sudden spike in large transfers has driven $16.8 million in exchange inflows, signaling potential liquidation ahead of market rebounds. On-chain metrics point to growing caution: the Network Value to Transactions (NVT) ratio has surged 104% to 129.02, suggesting XRP’s market value is outpacing real transaction demand, while Open Interest has fallen 8.6% to $1.17 billion as traders close leveraged positions.
Technically, XRP remains trapped in a descending channel between $2.20 and $2.65. A decisive break above $2.65 could target $3.12 and $3.60, but repeated rejections at the upper trendline may drive prices back toward support. With renewed whale selling and elevated NVT, short-term sentiment is cautious. Traders should monitor exchange inflows and Open Interest for signs of reversal or continued pressure before positioning for a potential rebound.
Bearish
The mass offloading of over 90 million XRP by whales, coupled with $16.8 million in exchange inflows, points to renewed selling pressure. Historically, large whale dumps have led to short-term price declines as liquidity surges and smaller traders capitulate. The rising NVT ratio (129.02) signals overvaluation relative to on-chain usage, while an 8.6% drop in Open Interest to $1.17 billion reflects waning speculative conviction. Additionally, XRP’s confinement in a descending channel underscores ongoing bearish control: failed breakouts near $2.65 have historically triggered pullbacks toward $2.20. In the short term, continued whale selling and technical resistance are likely to keep downward pressure intact. Over the longer term, sustained accumulation or a clear catalyst would be needed to reverse sentiment and drive a breakout above key thresholds.