XRP has been hit by one of the most aggressive selloffs this year, with on-chain data showing that large whale portfolios sold nearly 200 million XRP, approximately $400 million, in just 48 hours.
Related Reading: Ethereum Dead Cat Bounce Sets Price at $3,400, But What’s the Ultimate Goal?
According to Santiment’s analyses, wallets holding between one million and ten million tokens were the top contributors, adding significant sell-side liquidity to an already fragile market.
This sudden influx of supply came at a time when XRP was already experiencing bearish sentiment in the broader crypto space. The assets fell 10.32% in 24 hours, falling below the key psychological level of $2, hitting lows near $1.85 and posting double-digit losses within a day.
XRP's price trends to the downside on the daily chart. Source: XRPUSD on Tradingview
Extreme fear grips the market
Market indicators paint a bleak picture. XRP is trading below both the 50-day and 200-day Simple Moving Averages, indicating continued downward momentum. The Fear and Greed Index is at 14, firmly in “extreme fear” territory, as sales volume soared above $7.2 billion in 24 hours.
Analysts warn that the inability to regain resistance around $2.30 could open the door to deeper losses, with short-term projections pointing to a potential decline towards $1.50 if bearish pressure continues.
The weakness is not isolated to XRP. Bitcoin’s retreat below the $85,000 zone and Ethereum’s decline below $3,000 have led to market-wide liquidations, with macro uncertainty further fueling the economy.
Concerns about a possible slowdown in Federal Reserve interest rate cuts due to weak US jobs data and rising unemployment have dented investor appetite for risky assets across the board.
Will XRP stabilize or sink further?
The big question now is whether whales will continue to distribute whales, or pause their offloading. Analysts think this will happen if a new wave of large-scale sales does not arise XRP could stabilize and try to regain the $2 mark in the coming sessions.
Recovery projections place the short-term target between $2.50 and $2.70, although this would require a decisive break above long-standing resistance.
The medium-term forecasts remain cautiously optimistic, but cautious. Many experts expect XRP to trade between $1.96 and $2.27 through the end of 2025, with stronger upside momentum unlikely until regulatory clarity and upcoming ETF activity begin to shape demand heading into 2026.
Related Reading: Saylor’s Strategy Under Threat: Index’s Status at Risk With $8 Billion at Stake
For now, XRP faces a major supply glut, and whether the bleeding stops depends on what the whales do next.
Cover image of ChatGPT, XRPUSD chart from Tradingview