What’s Next for Ripple’s Price as Whales Start an XRP Sell-Off – Crypto News – Crypto News
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What's Next for Ripple's Price as Whales Start an XRP Sell-Off What's Next for Ripple's Price as Whales Start an XRP Sell-Off

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What’s Next for Ripple’s Price as Whales Start an XRP Sell-Off – Crypto News

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9 months ago

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XRP hovers at $2.41 as MACD and SRSI flash bullish signs. Whale outflows rise, but traders eye $5 upside if support holds.

XRP is trading around $2.41, up slightly over the past 24 hours. While the price remains within a defined range, recent signals from several market watchers suggest a possible shift in direction. However, the likelihood of a correction appears firmer at the moment.

Technical Setup Suggests Room for Upside

XRP continues to move within an ascending channel that has held since late 2024. According to ChartNerd, the asset is currently testing support at the lower end of that channel, near $2.40. On the weekly chart, the MACD histogram shows a series of higher lows, even as the price trends sideways—often read as a sign of building momentum.

The Stochastic RSI has dropped into oversold territory, printing a level of 6.24. Previous setups like this have preceded upward moves, though confirmation is still needed. ChartNerd said the first upside target in this scenario sits around $5, in line with the channel’s top range.

Near-Term Pressure Still in Play

While long-term signals look constructive, short-term charts show continued weakness. Analyst Ali Martinez shared a bearish view, noting that XRP has broken below a key support at $2.60. The current setup shows lower highs and lower lows, which supports a possible retest of $2.00.

“$XRP continues to slide. Next key target sits at $2,” Ali posted.

Unless the price reclaims the $2.60 level, the short-term structure leans bearish. This range is also consistent with levels where buying interest returned earlier this year.

Source: Ali Martinez/X

Moreover, traders are monitoring two main zones. CryptoWZRD pointed to $2.30 as a support level that could attract buyers if retested. A move above $2.55 would mark the next resistance and may set up a stronger recovery.

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XRP closed the previous daily candle with a slight loss, while XRPBTC also moved lower. WZRD noted,

“XRP will follow XRPBTC and Bitcoin’s overall price action tomorrow.”

A move toward $2.75 remains in play if the broader market turns.

Large Holders Trim Positions

According to STEPH IS CRYPTO, wallets holding over 1 billion XRP have offloaded approximately 1.09 billion tokens since October 16. This $2.63 billion shift marks one of the larger whale moves in recent weeks. Mid-size wallets also saw declines, though at a slower pace.

Even with these movements, the price held steady between $2.33 and $2.44. Analysts described this range as an accumulation zone rather than a breakdown. Institutions appear to be rotating within the range ahead of possible catalysts.

Ripple-backed firm Evernorth announced plans to list on Nasdaq via a merger, as previously reported. The company will focus on building services around XRP, adding to market interest in the asset’s long-term outlook.

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