What to know:
- XRP whale wallets sold more than 30 million tokens in five days.
- Heavy selling erased a rally that briefly pushed XRP near $1.29.
- Institutional investors continue buying XRP ETFs despite market weakness.
An XRP whale sell-off has emerged as the main force behind the token’s recent decline. Over the past five days, wallets holding at least 1 million XRP have offloaded more than 30 million tokens, adding significant pressure to the market.
Data from Santiment, shared by analyst Ali Martinez, shows that the combined holdings of these large addresses dropped from 3.82 billion XRP to 3.77 billion XRP. That reduction flooded the market with additional supply and weakened bullish momentum just as traders expected further gains.
The decline comes after XRP enjoyed a strong rally. On June 14, the token traded around $1.14. Improved sentiment surrounding global economic conditions and easing concerns about logistics disruptions encouraged buyers to return. As demand increased, XRP climbed rapidly and reached a local high near $1.29 on June 16.
Also Read: XRP Price Tests Key Long-Term Support as Bulls Eye $3.50 Recovery Target
XRP Whale Selling Erases Recent Gains
The rally did not last long. As XRP approached key resistance levels, large holders began taking profits. Their selling activity created a ripple effect across the market.
Over the next three days, XRP lost momentum and broke through several support levels. By June 19, the token had fallen to $1.1273. The speed of the decline suggested that many traders were caught off guard by the sudden increase in selling pressure.
The derivatives market made the situation worse. Leveraged traders betting on higher prices faced a wave of liquidations as XRP moved lower. These forced sales accelerated the downtrend and pushed the token further away from its recent highs.
XRP Whale Activity Contrasts With Institutional Demand
While whales were reducing exposure, institutional investors appeared to take a different view. U.S. spot XRP ETFs continued attracting fresh capital throughout the period.
ETF inflows reached $5.30 million on June 16, when XRP was near its peak. Another $2.55 million entered these funds on June 18, even as prices declined.
This contrast highlights a growing divide between short-term speculation and long-term investment strategies. The recent XRP whale exodus may prove temporary if institutional demand remains strong. For now, traders are closely watching the support zone near $1.05, which could become the next major battleground for buyers.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: XRP Ledger Stablecoin Market Reaches $907M With 84% RLUSD Share
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